Basic Concepts of Medicare
Laying a Solid Foundation | Lesson 4

Medicare Part D

No, you didn’t miss a lesson, we skipped over the letter C to talk about Medicare Part D.

It’s an optional prescription drug plan that is separate from Original Medicare.

And I say optional loosely, because while a prescription drug plan, or PDP is technically optional, it is coverage that’s widely needed.

Medicare Part D helps beneficiaries cover the costs of their prescription drugs.

Part D is available to everyone with Medicare, but the actual plans are provided by insurance companies and other private companies approved by Medicare.

That means that yes, prescription drug plans may be sold by insurance agents.

Beneficiaries pay a premium and sometimes other costs to mitigate the cost of their prescription drug medications.

And because those needs vary so much from person to person, beneficiaries often need assistance to find the best options available in their area based on those needs.

Also, it’s important to note that despite the fact that coverage is optional, beneficiaries may face a penalty cost if they choose not to sign up when first eligible but choose to do so later.

As an agent, you’ll help steer clients through the process of selecting the Part D plan that will cover their prescription needs, while also considering their budget.

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