Medicare’s Prescription Drug Coverage (Medicare Part D)

A Medicare Prescription Drug Plan (PDP), also known as Medicare Part D, is a stand-alone plan designed to provide some assistance for Medicare beneficiaries to pay for outpatient prescription drug costs. Medicare Prescription Drug Plans are administered by private insurance companies and other private companies approved by Medicare. It is available to Medicare beneficiaries eligible for Medicare Part A and/or enrolled in Medicare Part B.

Medicare Part D is optional (voluntary). If you join a Medicare drug plan, you pay a monthly premium. The cost of your Medicare Part D coverage will vary based on the PDP that you choose. If you decide not to enroll in a Medicare drug plan when you are first eligible, you may have to pay a penalty if you choose to enroll in a PDP later if you don’t have other creditable prescription drug coverage.

You can enroll in Medicare Part D during your Initial Enrollment Period for Medicare. Your Initial Enrollment Period is a seven-month period that begins three months before the month you are first eligible for Medicare and ends three months after you're eligible for Medicare. You may also enroll during the Annual Enrollment Period between November 15 - December 31 each year; coverage will begin January 1 of the following year. You may also enroll in Medicare Part D when you lose other creditable prescription drug coverage, such as coverage under an Employer Group Health plan.

Beginning in 2006, Medicare supplement insurance policies that are issued after 01/01/2006 no longer include outpatient prescription drug coverage. While Health Tradition Health Plan does not provide prescription drug coverage in 65Plus, we have partnered with several Medicare Prescription Drug Plans to offer this valuable coverage to our customers. Health Tradition 65Plus Plan’s are compatible with any Medicare Prescription Drug Plan.

Please contact a Health Tradition Sales Associate for more information at 608-781-2961 or 888-459-3020 (toll-free) or visit Medicare’s website at www.medicare.gov for more information on Medicare Prescription Drug plans.

*Note - If your income is low, you may qualify for Extra Help, also called Low Income Subsidy (LIS). This is a federal program that helps you pay for most of the costs of Medicare prescription drug coverage. You can apply for Extra Help though the Social Security Administration (SSA). You can contact the SSA at www.ssa.gov or by phone at 1-800-772-1213.

This is an advertisement for insurance. In offering Medicare Select insurance, neither Health Tradition Health Plan nor its agents are connected with Medicare.

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