Part D of the Medicare covers for the prescription drugs. You are eligible for the prescription drug coverage if at all you are covered by the parts A and B of the Medicare. In case you have coverage for the drugs from any other plan under part D, you can’t have a part D plan.
The part D plans are provided by the private insurers approved by the Medicare. Although the private firms can provide coverage based in customized plans they must implement the federal guidelines to get approval to the plans.
As soon as you gain eligibility for the Medicare, it is better that you take up a Medicare prescription drug plan. You may have to pay extra penalty because of late enrollment if you apply later unless you have got some other coverage to the prescription drugs during the gap.
The prescription drug plans need to cover for certain drugs on compulsion. Frequently prescribed drugs such as the cholesterol lowering drugs must be included in the plan formulary. A plan formulary is a set of covered drugs in a plan.
The companies also classify the drugs into tiers. While the tier one drugs cost more, those drugs in the top most tier are costly.
Mostly the generic drugs are cheap while the branded drug that falls in the top tier costs high. The federal government asserts that the effectiveness of the branded and generic drugs is the same and also the plans mark the generic drugs in the tier one category as the most preferred.
Here are a set of things not covered by the part D of Medicare:
? Vitamin and Mineral supplements
? Weight affecting drugs
? Those for better fertility
? Cosmetic related drugs
? Cold and cough drugs
? Those related to erection issues