Part D Nevada
For Medicare, Part D is the portion that covers your prescriptions. A separate drug plan is also known as a PDP policy. Original Medicare Parts A and B only cover your doctor visits and hospital expenses. This can leave a large gap in coverage for people that take medication. Enrolling in a separate Part D Nevada drug plan can eliminate this gap as well as allow you to avoid the penalty of not having drug coverage. Once you become Medicare eligible, you should shop around for a drug policy at the same time you are looking for additional coverage. Since Original Medicare only covers about 80% of your medical expenses, you can enroll in both supplemental medical and drug coverage with a health insurance broker.
I Don’t Take Prescriptions, Why Do I Need Drug Coverage Now?
The federal government issues a Part D late enrollment penalty if you go a certain amount of time without prescription drug coverage. This penalty is a percent increase on the monthly premium on your drug plan for life. This means that if or when you do finally enroll in a plan, you could have a significant increase in the monthly cost to just enroll. This is why it is important to enroll in a drug plan when you’re initially eligible for Medicare. The lowest costing Part D Nevada Drug plan is usually very inexpensive. In addition, it can come in handy if you needed to start taking prescriptions for a new condition. You can only enroll in these plans during certain times of the year.
Are There Any Medical Plans That Also Have Drug Coverage?
Yes! Many Medicare Advantage plans have drug coverage included in the policy. These plans are also known as MAPD plans. You do not need to enroll in a separate drug policy if you have an MAPD policy. If you have a stand-alone Medicare Advantage or Medicare Supplement policy, you will need another drug plan since these policies do not cover drugs. At the end of the year during the annual enrollment period, you can always switch to a Medicare Advantage plan that covers drugs. You can also switch to a stand alone Medicare Advantage plan and enroll in a separate PDP policy.