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How does Medicare impact my prescription drug coverage?


What is your medication situation? How will that be impacted by the Medicare plan I select?

  • Original Medicare and Medicare Supplement plans require beneficiaries to enroll in a stand-alone prescription plan from a private insurance company.
  • A Medicare Advantage plan, depending on the one you select will include Prescription Drug Coverage at no added cost.
  • Many of us take one or more medications on a regular basis. It is important to review the drug formulary to make sure the medication(s) you take are covered by your Medicare plan.
  • If you are thinking about staying with your current plan, you should check your Evidence of Coverage and Annual Notices of Changes document to see if there have been any changes to your medication coverage.

When reviewing a drug formulary, make sure to check:

  • Drug brand names and generics.
  • Quantity limits (how much you can get in a specific time period).
  • Prior authorization requirements.
  • Limited pharmacy access (some drugs are only available at specific pharmacies).
  • Prescription tiers and the associated costs.

There are a lot of tools out there that allow you to shop plans and compare drugs costs between Medicare Advantage and Prescription Drug Plans.

Call us at 855-442-9940 and have the SelectHealth Answer Team provide a complimentary personalized Medicare consultation.

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