Medicare Part D Prescription Drugs, Part 3
An SEP can be done at any time duringthe year in which you are in a qualified situation. If you are not sure thereis a situation, call Medicare with the phone number. A licensed insurance agentwill be happy to help you identify your options. United Healthcare advantage plans can be found at https://www.medicareadvantageplans2019.org/united-healthcare-medicare-advantage-2019/
What is the Medicare Part D gap (“uncovered period”) and how can I avoid this?
The coverage gap (or “uncovered period”) refers to the point at which you and the Prescription Drug Policy of Medicare Part D or the Medicare Advantage Prescription Drug Policy spent a certain figure on insured prescription drugs. This amount is also referred to as the initial coverage limit. As soon as you have reached the limit of your initial coverage, you are in the so-called insurance gap, also known as the “coverage gap.”
In this phase of your Part D benefits, you pay a higher percentage of your prescription drugs. After you have spent a given amount, you reach the catastrophic coverage phase and pay only a small additional payment or coinsurance for your covered drug for the rest of the year. This article will give you more information about the actual costs you will pay when the insurance gap or the “uncovered period” comes in.
There are several ways to reduce the cost of prescription drugs. For instance:
Switch to cheaper drugs. Talk to your doctor about the use of generic and / or prescription prescriptions and if these options are appropriate for your condition. Many generic drugs work the same as expensive brand prescriptions, and this could save you money every year and keep you away from the deficit.
Request your policy for prescription mail order programs. You can save money on medications that you take for a long period of time (for example, 30 or 90 days).
If your Medicare policy requires the use of network pharmacies, make sure you complete your pharmacy prescriptions in your policy’s network. Otherwise, the policy can not cover it. In addition, some policies may have lower cost sharing if you use not only network pharmacies, but also preferred pharmacies in the policy network. Therefore, check with your policy if you can save money by exchanging your prescriptions at certain pharmacies.
Always use your Medicare Policy membership card when you receive your medication. If you use your card, you may be eligible for discounts on the prescription drugs you buy, and the money spent on covered drugs will automatically be added to your deductible (if applicable).
Look for programs that offer support. The National Advocate Foundation for Patients or the National Organization for Rare Diseases may have programs that support the costs of your prescription drugs. For complete information on state, federal and private assistance in your area, contact the National Council on Aging.
Apply for the Low Income Subsidy Program if you have limited income. Additional help helps low-income beneficiaries with the cost of prescription drugs. If you are eligible, you will not enter the coverage gap. You can get more information and find out if you are qualified by contacting the Medicaid program in your state.