Medicare is confusing. There are many different Parts and Plans within the world of Medicare. the names of most plans and parts are letters of the alphabet which can be confusing! This article discusses Part D of Medicare in Nevada. Understanding the basic rules of Part D of Medicare in Nevada is very important. Also, if you do not have Part D of Medicare in Nevada, you may be assessed a lifetime penalty for every month you are not enrolled.
Medicare Advantage Plans
Medicare Advantage Plans, also known as Part C of Medicare, usually include Part D drug coverage. When these plans include Part D drug coverage, they are called Medicare Advantage Prescription Drug Plans or MAPD for short. The federal government does not allow people to enroll in a standalone Part D drug plan if you have a Medicare Advantage Plan.
Simply put – if you want drug coverage, and you have a Medicare Advantage plan, you need to make sure your Medicare Advantage plan includes drug coverage. You cannot buy a separate drug policy with a Medicare Advantage plan.
Medicare Supplement Plans
Unlike Medicare Advantage plans, Medicare Supplement policies never include drug coverage. That being said, your Medicare Supplement insurance company may offer standalone drug plans as well. You can purchase this standalone drug plan separately. To enroll in drug coverage while enrolled in a Medicare Supplement plan, you need to apply for a standalone Part D drug plan.
Standalone Part D Drug Plans
Standalone Part D drug plans do not ask health questions. Many insurance companies offer plans ranging in benefit and price. It is very important to compare plans and make sure your drugs are covered correctly. Also, different plans will cover different pharmacies. The federal Medicare website helps people enroll in part D drug plans while comparing all options available in your area. There are certain times of the year when you can enroll in a Part D plan. The Federal Medicare website will ask you the necessary questions to see if you can get a plan today! To review different drug plan options on the Federal Medicare website, please click here.