(Need help comparing your Part D plan options? Contact a licensed Medicare agent at Innovative Insurance Solutions today to help compare your options)
Medicare Part D Prescription Drug plans are plans you can enroll on with a private insurance company to help with your Medication costs using copays and coinsurances required by the plan. There are many available options for Part D insurance companies offering Prescription drug plans. Each Part D insurance company has a formulary that lists each medication their plan covers and what your copays/coinsurance will be at the pharmacy. These Private insurance companies can set their own price using copays/coinsurance for each of their medication tier levels. However, these Part D insurance companies must remain compliant with federal requirements for minimal essential levels of coverage and must receive Medicare’s approval each year for their plan benefits. You can enroll onto a Part D drug plan one of two ways; by enrolling onto a stand-alone prescription drug plan or by enrolling onto a Medicare Advantage plan that includes prescription drug coverage.
At Innovative Insurance Solutions we help clients by assessing their Prescription Drug plan needs and ensuring they are on a plan that suits those needs. There is no cost for our services. . Call us today and talk to a licensed insurance agent to help assess your needs! (817) 421-8900.
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