Medicare is a must-have insurance program for senior citizens. But even though our parents and grandparents enjoyed the same benefits as we did, they didn’t have to go through the grueling process of choosing one plan from among hundreds of Medicare supplement plans. And because they paid in their golden years, the last thing they wanted to do was collect government checks. That’s where an experienced guide to Medicare can help.
Finding a guide to Medicare can make the difference between expensive Medicare premiums and less-expensive supplemental insurance costs. Many Medicare beneficiaries choose to get their Medicare supplement from a different source than the one provided by their original Medicare.
Many of these alternatives aren’t considered Medicare Part D drugs, which means that Medicare can spend a lot more on medicines than it would if the beneficiary chose the right option. So how do you know what your Medicare alternative options are and how to choose them so you won’t waste money on useless prescriptions? It helps to know exactly what Medicare does and doesn’t cover when you’re looking for a guide to Medicare.
Medicare Part D is the answer to the problem. This program covers some of the more popular and more costly medications on the market. For this reason, many seniors choose to pay out-of-pocket for their medications. This practice can put a financial burden on the family. With a guide to Medicare, it is easy to see which medications are considered “Medigap” supplements and which are not.
When comparing Medicare Advantage plans, it helps to know which ones are optional and which ones are required. The original Medicare program only offers two options: standard and vision coverage. Standard coverage pays for the “base” level of medications. This includes everything from the ten most common forms of medicine to cholesterol medication and oxygen therapies. With a Medicare Advantage plan, you have the option to choose the medications you want.
These plans pay a percentage for brand name prescription drugs, as well
as a discount on generic or brand name prescriptions. These policies also include vision and dental care as part of the coverage. The Medigap supplement, in particular, pays 100% for the brand name, non-prescription medications. Most Medigap policies include vision and dental plans as well.
There are other types of Medicare supplement plans available, including network pharmacy plans. The information in this article is not intended to be used as professional medical advice. Please talk to a Medicare representative about your specific situation and any options that may meet your needs. Your physician is the best resource for questions about your Medicare coverage and medication.