Elder Law Group Blog

Understanding Medicare’s Part D Program

Jul 28, 2017 | Articles

Medicare is a federally funded health insurance program available to people 65 or older or who have certain disabilities, regardless of income or assets. While Medicare plans pay for health care expenses, many plans do not automatically cover the cost of most prescription drugs.
Understanding Medicare’s Part D Prescription Drug Plans
Medicare Part D offers prescription drug coverage. It can be added to Original Medicare (Part A and Part B). You must join a plan run by an insurance company that is approved by Medicare. You can enroll in any Part D plan available in your area. Plans will vary in costs and coverage depending on the medications you are prescribed and the plan you select.
You have the option of getting all of your Medicare benefits under one plan if you choose to enroll in a Medicare Advantage Plan (Part C) that includes prescription drug coverage.
Late Enrollment Penalty
Signing up for Medicare Part D is optional, but if you do not sign up when you first become eligible you may have to pay a late enrollment penalty if you want to enroll later. The penalty is calculated based on the number of months you were eligible to enroll in Part D but did not enroll and did not have other “credible” prescription drug coverage that is comparable to Part D. You may have to pay the late enrollment penalty for as long as you are enrolled in the Medicare Part D plan.
Medicaid & Part D Prescription Drug Coverage
Medicaid is a publically funded health care program for people who have insufficient resources or income to pay for their own care. It pays for all prescription drugs. Medicaid will pay the premiums and co-payments of a recipients Medicare’s Part D program.
Understanding Your Health Care Options
The compassionate attorneys at Elder Law Group PLLC understand how important it is to you and your family to properly and affordably provide for your health care and living needs. We can help you decide what Medicare or Medicaid benefits are right for you and your family. We know what is necessary to qualify for these benefits and how they will work in conjunction with your existing financial situation.
We invite you to learn more about our team here, and read what our clients have to say about us here. Our firm offers legal services and guidance in the following areas:

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Contact us or call (509) 468-0551 (Spokane office), or (509) 579-0206 (Tri-Cities office), for personal, compassionate, and competent guidance on Long-Term Care planning, Asset Protection Estate Planning TM, or other legal needs of seniors, the disabled, or vulnerable adults and their families.

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