Senior Health Insurance

Prescription coverage was one of the big gaps in Original Medicare. It was one that Medicare Supplement (Medigap) policies never filled very well.

Today we have the Medicare Part D policies that do a good job of providing coverage for Rx. The protection you will get from a Prescription Drug Plan or PDP is very good. And it is offered at a price that most seniors can afford.

Good News about Medicare Prescription Drug Plans

These policies will be dramatically better in 2011 when compared to 2010. In 2010 Policyholders who have larger prescription bills will get lower rates for name brand drugs.

Qualifications for Prescription Drug Coverage

You should qualify for a Prescription Drug Plan if you have either Medicare Part A or Medicare Part B. Medicare beneficiaries qualify for these policies whether or not they are over age 65.

You can get coverage from a PDP one of two ways. You can purchase a standalone policy. You can get prescription drug coverage a Medicare Health Plan that also includes coverage for Rx.

If you have Original Medicare and a supplement that does not cover prescriptions, you can purchase a standalone PDP. If you have one of the older Supplemental policies that cover prescriptions, you will have to either change policies or have your insurance carrier remove the Rx benefits from your Supplement plan.

Medicare Supplement policies that are sold today are not allowed to cover prescriptions. Policies sold in the past were able to do so. Those who purchased those types of policies in the past are allowed to keep them.

You can have the benefits you might expect from a PDP included in your Medicare Advantage policy. This is often a very cost-effective way to get prescription coverage.

If you purchase such a policy you will not be able to get a separate Prescription Drug Plan. You are only allowed to have one policy that covers prescriptions.

If your Medicare Advantage policy doesn’t cover prescriptions, you can purchase a separate PDP or you can change Medicare Advantage policies.

PDPs fill a great need. They help Medicare beneficiaries get protection against high bills for medicine.