Do You Get Prescription Coverage When You Sign Up For Medigap?
One thing that will drain your bank account in the United States is prescription medications. The cost of prescription meds in the US is higher than in many places in the world, especially when comparing the US with countries of its caliber. You don’t want to be paying for your medication off-pocket when you are sick or on a long-term treatment regimen such as those patients with diabetes mellitus, hypertension, or any chronic illness. It is the likelihood of overspending which makes it crucial for everyone to have healthcare insurance coverage that takes care of prescription medications.
What about Medigap? Does it include coverage for prescription meds? We will find the answer to this question and much more in this article.
Modern Medigap Plans And Prescription Meds
When you sign up to the modern Medigap plans, you may not be entitled to Medigap prescription medications in New York because modern Medigap Plans do not include drug prescriptions as benefits. But there is a way to get around this. Medicare has a separate plan called the Part D that offers coverage for prescriptions medications. Therefore, if you want prescriptions medications coverage, then there are two options that you can explore. You can either enroll for a Medicare advantage plan because the majority of these plans include coverage for prescription medication. Alternatively, you can purchase the standalone coverage for prescription medications under the Medicare Part D plan. This standalone part D plan goes well with the original Parts A and B plans.
There is a twist to these plans, too, in terms of when you purchased your plan. Those who bought their Medigap policies prior to January first, 2006, and have maintained that plan may benefit from prescription coverage without purchasing any additional plan. The individuals who purchased Plans H, I, and J prior to 2006 can enjoy the limited coverage of prescription drugs that was assured by these plans. Currently, these plans are no longer being sold. But if the partial coverage of prescription medications under Plans H, I and J is not adequate for you and you want to join the Part D plan, you will have to drop your Medigap prescription plan. That is because you cannot have separate policies for prescription drug coverage simultaneously.
Whether you are enrolling for the United healthcare health insurance or any form of insurance at your disposal, you should always do your due diligence with the information availed to you. Shopping around for options and asking around as much as you will help you choose the best health insurance plans and policies for you. Of course, you can always switch from your old insurance coverage plans to the latest Medigap prescription medications New York plans, depending on need. When you change to Part D and drop your Medigap prescription plan, you will need to go through medical underwriting for the Medigap plan