TACONIC PHARMACY IS COMMITTED TO SAVING YOU MONEY ON ALL OF YOUR PRESCRIPTION AND SURGICAL SUPPLY NEEDS. WE HAVE BEEN A SOURCE OF INFORMATION FOR ALL OF OUR PATIENTS FOR OVER 60 YEARS.
THERE ARE MANY MEDICARE PART D PLANS AVAILABLE AND IT IS NOT ALWAYS EASY FOR A PATIENT TO PICK WHICH PLAN IS RIGHT FOR THEM. PICKING THE WRONG PLAN COULD LEAD TO UNNECESSARY OUT -OF-POCKET EXPENSES. BELOW WE HAVE LISTED SOME FREQUENTLY ASKED QUESTIONS ABOUT MEDICARE PART D PLANS. AT THE BOTTOM OF THIS PAGE THERE IS A LINK TO THE OFFICAL MEDICARE WEBSITE ‘S PLAN FINDER. THIS PLAN FINDER WILL GIVE YOU AN UNBIASE OPINION ON WHICH PART D PLAN IS RIGHT FOR YOU, BASED ON THE MEDICATIONS YOU CURRENTLY TAKE. GRASSY SPRAIN PHARMACY ACCEPTS ALL AVAILABLE MEDICARE PART D DRUG PLANS.
FREQUENTLY ASKED QUESTIONS ON MEDICARE PART D
- What is Medicare Part D?
Answer: Medicare part D is an optional extension of your original Medicare plan that covers prescription drugs. You must enroll in the Medicare Prescription Drug Program to receive coverage. Medicare contracts with private insurance companies to offer prescription drug coverage. There are different plans available in different parts of the country. You can only join a plan that is available in your local area. Plans can differ vastly in deductibles, copayments, and medications they cover.
- Am I eligible to participate in the Medicare Drug Program?
Answer: To be eligible to receive Medicare Part D Coverage a person must be:
- 65 years or older and entitled to receive Medicare benefits Part A and/or Part B.
- Under 65 and Disabled, and have been entitled to disability benefits under Social Security or Railroad Board. Coverage would begin the 25th month of your disability benefit.
- Is it Mandatory that I Join the Medicare Part D Prescription Drug Program?
Answer: No. Joining a Medicare Drug Plan is the patient's choice. However, to have Medicare pay for your medication you have to join a plan. A patient should consider joining a Medicare Plan even if they do not use many drugs now. As a person ages their need for prescription drugs usually increases. The cost of these medications could spiral out of control very quickly.
The best time to join a Medicare Drug Plan is when you first become eligible for Medicare. If you do not join during this initial period, you will have to wait until the next open enrollment (Between October 15th and December 7th) and you have to pay a penalty. This means you will be stuck paying a higher monthly premium for as long as you have Medicare.
- When can I enroll In a Medicare Prescription Drug Plan?
Answer: You can join a Medicare Prescription Drug Plan when you first become eligible for Medicare. If you do not join during this initial period, you will have to wait until the next open enrollment period which is between November 15th and December 31st of each year and pay a penalty.
- When can I change my Medicare Prescription Drug Plan?
Answer: You can change your drug plan during the open enrollment period which is between October 15th and December 7th every year.
- What does it mean to be in the Coverage Gap or "Donut Hole"?
Answer: Most Medicare Prescription Drug Plans have a coverage gap ( also called the "donut hole" ). This means there's a temporary limit on what the drug plan will cover for drugs. Not everyone will enter the coverage gap. The coverage gap begins after you or your drug plan have spent a certain amount for coverage drugs. In 2015, once you and your plan have spent $2.960 on covered drugs ( the combined amount plus your deduction ), you're in the coverage gap. In 2016, once you and your plan have spent $3,310 on covered drugs, you're in the coverage gap. This amount may change each year. Also, people who get Extra Help paying Part D costs won't enter the coverage gap. Once you reach the coverage gap in 2015, you'll pay 45% of the plan's cost for covered brand-named drugs. You get these savings if you buy your prescriptions at a pharmacy or order them through the mail. The discount will come off of the price that your plans has sex with the pharmacy for that specific drug. Although you'll only pay 45% of the price for the brand-name drug in 2015, 95% of the price - what you pay plus 50 % manufacturers discount payment will count as out-of-pocket costs which will help you get out of the coverage gap. What the drug plan pays toward the drug cost ( 5% of the price ) and what the drug plan pays toward the dispensing fee ( 55 % of the fee ) aren't counted toward your out-of-pocket spending. In 2015, Medicare will pay 35 % of the price for generic drugs during the coverage gap. You'll pay the remaining 65 % of the price. What you pay for generic drugs during the coverage gap will decrease each year until it reaches 25 % in 2020. The coverage for generic drugs works differently from the discount for brand-name drugs. For generic drugs, only the amount you pay will count toward getting you out of the coverage gap.
MEDICARE PART D DRUG PLAN FINDER!!!!
Click on the link below to compare Medicare Part D Plans to find which is right for you!