Medicare Part D Plans and Coverage in Coffeyville
What is Medicare Part D? Medicare Part D plans, which are also known as Medicare prescription drug plans, assist in covering the costs of prescription drugs, which is not included in Parts A and B with your Coffeyville healthcare. Medicare Part D eligibility falls into your Initial Enrollment Period (IEP) which spans the three months before your 65th birthday, the month of, and the three months afterward. In order to be eligible for Medicare Part D, you must pay for Part B. Medicare Part D may not be needed if you are enrolled in Medicare Part C, because most of those Medicare Advantage plans include prescription drug coverage.
The Medicare Part D cost will depend on when you enroll and what plans are offered in Coffeyville. If you do not sign up upon eligibility, the premium price will go if you enroll at a later time or you may be required to pay a penalty set by Medicare. It is important to not that unlike Parts A and B, enrollment in Part D is not automatic.
Different plans will provide various Medicare drug coverage based on each Medicare Part D plan formulary. The Part D plan formulary is a list of drugs the Medicare drug plans cover structured into different pricing tiers. The federal government will set the pricing guidelines for prescription drug costs each year, so it is important to know that what you see for this year may not be the case in the future. Monthly premiums will be set in October based on their guidelines and will vary by plan. In most cases, there will be levels of cost sharing until the set spending threshold for one year has been reached.
How Does Medicare Part D Work in Coffeyville?
Under Part D Medicare, Medicare prescription drug coverage is performed in stages in Coffeyville. Plans with a deductible require the total amount of drug costs are paid until the deductible is reached. From there, you will go through the drug coverage stages. The plan pricing in Coffeyville and through Kansas will be different than one in Missouri, but generally speaking the stages are initial coverage, coverage gap, and catastrophic coverage through the end of the year. During the coverage gap, the average amount that is paid is around:
- 65% of generic drug price
- 45% of brand-name drug price
The prescription drugs you use should not only be covered under your Part D plan, but you also need to verify that they would also be covered in Coffeyville. The Medicare prescription drug benefit will change each year along with the list of drugs covered. Depending on the different Medicare Part D drug plans, choice of pharmacies may be limited in the Coffeyville area. Some plans offer nationwide pharmacy coverage or mail order service for prescription drugs. You are free to change your Medicare Part D coverage yearly during open enrollment from October 15 through December 7.
Medicare Part D Coverage Providers in Coffeyville
Take a look at the current Medicare providers we work with to compare Medicare Part D plans and find the best one for your needs.
Get A Quote for Medicare Part D Plans
Please use the form below to submit information and receive a personalized Medicare Plan D quote! You can also give us a call at 816-265-0859 to speak with Jeffrey Adams or Paula Wehba about the different types of plans available and advice on the best Medicare Part D plans for your lifestyle.
A sales agent may mail, call, or email as a result of completing the information to discuss Medicare Advantage, Prescription Drug Plans, or Medicare Supplement Insurance.