Anyone qualifying for Medicare also qualifies for added prescription drug coverage, as offered by different insurance providers who work with the government. These apply to original Medicare, Medicare Cost, Medicare Savings and Medicare Private.
Eligibility
Eligibility has nothing to do with income or welfare benefits, but rather age. Unlike Medicaid, Medicare applies to anyone 65 or over. Persons diagnosed with End-stage Renal Disease qualify irrespective of age. Other disabilities may also qualify for Medicare before age 65. Also, undocumented residents living in the U.S unlawfully for longer than five years may qualify.
Function
Medicare prescription drug plans reduce the cost of most medicine, provide better tracking of drugs used by each patient, and may even eliminate the need for co-payment. They add comprehensive drug coverage beyond basic hospital and doctor visits (parts A and B).
Cost
Medicare drug plans have varying price structures, depending on provider and levels of coverage. However, further assistance may be available to those on very fixed or limited incomes even if they don't qualify for Medicaid. You may switch plans at any time with advance notice.
Types
Medicare Advantage plans, or Medicare Part C, generally come with prescription drug coverage included, but check with your provider. At any rate, any Medicare health plan can have drug coverage added to it at an extra cost.
Misconceptions
Private Health Maintenance Organizations and Preferred Provider Organizations administer the more premium Medicare plans. This has lead to the notion that they're not part of Medicare, when this isn't the case at all. Any Medicare plan, regardless of coverage, falls within the same jurisdiction.
Identification
In keeping with Medicare's alphabetic "escalation" model, prescription drug add on plans are also known as Part D, currently the highest letter assigned.
Tags: drug coverage, prescription drug, drug plans, Cost Medicare, prescription drug coverage