Everything You Need To Know About Medicare Prescription Drug Coverage

By Joel Williams

A healthy life is a better life. Medicare strives to make sure you can get the health care and prescription coverage you need and the quality of care you deserve.

Medicare prescription drug coverage is insurance that covers both brand-name and generic prescription drugs at participating pharmacies in your area. Medicare prescription drug coverage provides protection for people who have very high drug costs or experience unexpected prescription drug bills in the future.

Everyone who currently has Medicare is eligible for prescription drug coverage. This is regardless of income, health status, or current prescription expenses.

You are eligible for Medicare prescription drug coverage three months before the month you turn age 65 until three months after you turn age 65. If you get Medicare due to a disability, you can join from three months before to three months after your 25th month of cash disability payments. If you don't sign up when you are first eligible, you may have to pay a penalty. If you didn't join when you were first eligible, your next opportunity to join will be from November 15, 2008 to December 31, 2008. So mark these dates on your calendar so you won't miss them. There are generally no prior notifications.

Medicare prescription drug coverage benefits depend on the kind of health care coverage you have now. There are two ways to get Medicare prescription drug coverage. You can join a Medicare prescription drug plan or you can join a Medicare Advantage Plan or other Medicare Health Plan that offers drug coverage. Whatever plan you choose, Medicare drug coverage will help you by covering brand-name and generic drugs at pharmacies that are convenient for you.

Like other health insurance, if you join, generally you will pay a monthly premium, which varies by plan, and a yearly deductible. You will also pay a part of the cost of your prescriptions, including a copayment or coinsurance. Costs will vary depending on which drug plan you choose. Some plans may offer more coverage and additional drugs for a higher monthly premium. If you have limited income and resources, and you qualify for extra help, you may not have to pay a premium or deductible.

Medicare prescription drug coverage provides greater peace of mind by protecting you from unexpected drug expenses. Even if you don't use a lot of prescription drugs now, you should still consider joining. Most people need prescription drugs to stay healthy, as they age. Joining now means protection from unexpected prescription drug bills in the future.

If you have limited income and resources you may also qualify for additional help. Medicare will pay for almost all of your prescription drug costs.

Medicare is your partner in staying healthy. They are committed to providing you with benefits that meet your needs and the information that can help you make informed health care decisions.

Joel Williams is a recognized authority on the subject of senior health care. His website, http://seniorlivingmatters.com/care provides a wealth of informative articles and resources on everything you'll ever need to know about senior health care.