Where Can I Find a Medicare Prescription Drug Plan?
If you take prescription medications, you might want to sign up for Medicare prescription drug coverage. Even if you don’t take medications now, if you think you might take them in the future, it may be a good idea to sign up now.
What kinds of Medicare prescription drug plans are there?
The first thing you’ll want to think about is the type of plan you want.
- If you have Medicare Part A (hospital insurance) and Part B (medical insurance), you can sign up for a Medicare Advantage Prescription Drug plan. A Medicare Advantage plan provides your Part A and Part B benefits. When they include prescription drug coverage, these plans are called Medicare Advantage Prescription Drug plans.
- If you stay with Medicare Part A and/or Medicare Part B, you can enroll in a stand-alone Medicare Part D Prescription Drug Plan (PDP).
Both types of plans are available from private, Medicare-approved insurance companies.
Finding Medicare prescription drug plans where you live can be easy. You don’t even have to leave this web page. All you need to do to compare Medicare prescription drug plans is enter your zip code in the box on this page and click the button.
How to find Medicare prescription drug plans that may cover your medications
Let’s say you want to compare stand-alone Medicare prescription drug plans. After you enter your zip code on this page, you’ll see a list of plans available in your area.
Click Add Your Rx Drugs to enter your medications. eHealth’s plan finder tool shows you which plans in your area may cover your prescriptions.
The list of Medicare prescription drug plans also tell you each plan’s monthly premiums, deductibles, and coinsurance/copayments.
How to make sure your Medicare prescription drug plan is still right for you
You may want to review your coverage options each year. Your plan might add or drop medications from its list of covered prescription drugs. Or, you may have changes in the prescriptions you take. You might be able to switch to a Medicare prescription drug plan that may be a better deal for you in the next year. Here’s when you can switch to a different plan:
- During the Annual Election Period (October 15 – December 7)
- During the Medicare Advantage Open Enrollment Period, if you’re switching from one Medicare Advantage plan to another. This period runs January 1 – March 31 every year. You generally can’t switch from one stand-alone Medicare Part D prescription drug plan to another during this time.
There may be other times when you can change plans. You can compare your current plan with other Medicare prescription drug plans to make sure you are choosing the coverage that will best help you keep your prescription drugs affordable. To get started, type your zip code into the box on this page. Follow the steps to enter your prescriptions so you can compare prices and other costs among plans.
How to compare Medicare prescription drug plans online
It can be tempting to make a hasty decision based on which plan offers the lowest premium. But remember, your Medicare prescription drug coverage may include other costs. You might pay an annual deductible amount, and of course there’s the coinsurance or copayment for each prescription. Your costs can vary widely from one Medicare prescription drug plan to another.
Medicare prescription drug plans may have networks of contracted pharmacies or preferred network pharmacies. A preferred pharmacy is one that has agreed with the plan to charge less for covered prescriptions.
Enrolling in a Medicare prescription drug plan
Once you’ve decided on a Medicare prescription drug plan, you can enroll quickly and easily online – any time of the day or night – using eHealth’s plan finder tool described above.
Choosing the right Medicare prescription drug plan for your needs may require thoughtful consideration, but may be well worth the effort. Learn more about Part D enrollment periods for Medicare prescription drug plans.
Ready to compare plans to find the Medicare prescription drug plan that’s the best value for your prescription drug needs? Just type in your zip code in the box on this page and follow the steps.