If you are looking for credible and reliable treatment coverage, Medicare Part D Coverage is a perfect plan for you. Medicare Part D is an optional plan. It is offered as part of the larger federal Medicare health insurance program. It provides enhanced prescription treatment coverage. Insurance should be purchased from private providers who are registered. So why do you need part D coverage? Let us look into it in some detail.

Eligibility
To opt for Medicare Part D, an individual must have availed of Medicare Parts A and B. They should also live in the service area of the plan. You cannot enroll in the standalone Part D plan if you already have the bundled Medicare Advantage Plan, which includes prescription treatment coverage. The following criteria should be met for eligibility to enroll for the Medicare A and B Plan:

The age should be 65 years
Age is an important requirement if you want to avail yourself of Medicare benefits. There is a seven-month enrollment window for signing up for Medicare A and B. This window begins three months before the individual’s 65th birthday. It works during the birthday month and continues for three subsequent months. If you enroll for other plans than this window, the premium for Part D coverage is higher.

Eligible disability
If the physician has confirmed that the individual has an eligible disability, one may opt for this plan. It includes health conditions such as Alzheimer’s disease and chronic back pain.

Have ESRD and ALS
A person with ESRD qualifies for early Medicare benefits. As a general rule, a person qualifies for this coverage within one to three months of undergoing dialysis or having a kidney transplant. Also, if one has ALS and has not reached 65 years, they can opt for Part D coverage. Once the doctor diagnoses the condition, one becomes eligible for this coverage.

How does Medicare Part D work?
There are two ways to get prescription treatment coverage. They are Medicare Advantage, and Part D. Medicare Part D is the component of the Medicare Program. Its primary objective is to reduce prescription costs for people 65 and older. However, though it was enacted into law in 2003, it had not started offering coverage till 1st January 2006.

Need of Part D coverage
Sometimes it becomes challenging to decide whether one needs Medicare part D coverage. However, numerous reasons highlight its significance and help individuals decide whether to go for this plan. Some can be counted below:

No employer-sponsored health coverage
Opting for Part D coverage is a good choice when one no longer has health coverage through the employer. It is also significant for all those older adults who have to rely on regular treatments. This happens in most cases when an individual retires and loses their employer-sponsored benefits. Therefore, enrolling for this coverage will fill the gaps, save from huge expenses, and ensure savings.

Protection for the future
Opting for this coverage makes one get future protection for a possible health condition, even if currently not taking regular treatments. Prescription treatments can be highly costly without coverage and lead to a huge financial burden.

Taking regular prescription treatments
Part D provides coverage if one is taking regular prescription treatments. It also provides a cap and covers the entire cost.

Flexible plan options
This coverage is provided by private insurance carriers. Therefore, there are multiple plans to choose from among the various options. There is a difference in coverage and cost for each plan. The plans may cost USD 15 a month, and it entirely depends upon the service area of the individual. It is best if one looks for a plan with a lower deductible.

Avoiding the late enrollment penalty
If one signs up for this coverage early, they may be saved from the penalty of enrolling late. This late enrollment penalty is permanent and gets added to the monthly premium. It remains in place every time one enrolls for this coverage.

Helps low-income individuals
Medicare Part D offers help to low-income beneficiaries through its Low-Income Subsidy (LIS) Program. Some veterans are eligible for this program. Therefore, enrolling in the Part D plan helps them to avail themselves of the benefits of this plan and even considerably lower remedy costs.

This post has provided readers with information concerning Part D coverage. The various reasons for its need are also listed here. However, we suggest consulting with experts, knowing all the terms and conditions and eligibility criteria, and then opting for this plan. This post does not intend to take the place of experts’ advice and recommendations.