Prescription Drug Insurance and Medicare AARP advantage plan Insurance
Currently, there are two ways to getMedicare prescription drugs. The first is through an independent prescriptiondrug plan of Medicare Part D. The second option is the selection of a MedicareAdvantage plan, which offers prescription drug coverage, also known as thePrescription Drug Plan of Medicare Advantage. Prescription drug coverage isoptional and you can buy it from private insurance companies that subscribe toMedicare.
Some AARP advantage planal Medicare(Medigap) plans sold before January 1, 2006 provide limited coverage forprescription drugs. However, these plans are no longer available. All Medigappolicies sold after this date are not covered for prescription drugs. Find a AARP 2019 advantage plan here https://www.medicareadvantage2019.org/aarp-medicare-advantage-plans-2019/
Medigap plans with prescription drugs.
If you enjoy old Medigap insurancewith prescription drug coverage, check with your insurer to see if thiscoverage is acceptable. If so, you can maintain the policy. However, read theannual notice about eligible plan coverage to make sure you can be creditedfrom one year to the next. The plan should send you this message in Septemberof each year.
If your prescription drug coverage isnot acceptable, here are some options for obtaining additional drug coverage: Option #1: You may enroll for aprescription drug plan of Medicare Part D and keep your Medigap policy. Beforemaking this change, you must first compare the coverage you now have with thecoverage provided in the Medicare Part D plans available in your area.
Important note: You cannot have a PartD prescription drug plan of Medicare and a Medigap policy with prescriptiondrug coverage. If you join a prescription drug plan of Medicare Part D, youmust inquire from your Medigap insurer to withdraw your prescription drug protectionfrom your Medigap insurance and adjust your premium. Remember, you will not beable to recover this coverage once the drug coverage of your Medigap policy hasbeen eliminated.
Option # 2: You may choose not toparticipate in Medigap plan and obtain all your Medicare coverage via aPrescription Drug plan of Medicare Advantage. Before making this change, youmust first carefully compare all the medical and prescription benefits you nowhave with the Medicare Advantage Prescription Drug Plans available in yourarea.
Important: If you join a Part Dprescription drug plan of Medicare and enroll in a Prescription Drug plan ofMedicare Advantage, you will automatically disenroll from the prescription drugplan of Medicare Part D.
Medigap AARP advantage plan plans withno prescription drug coverage.
There are three options for you if yousubscribed for Original Medicare, and a Medicare AARP advantage plan plan withno coverage for prescription drug:
Option 1: keep everything andparticipate in a separate prescription drug plan of Medicare Part D.
Option # 2: Cancel the registration ofyour Medicare AARP advantage plan insurance plan and obtain your benefits fromMedicare Part D and Original Medicare through a Prescription Drug plan ofMedicare Advantage.
Option 3: keep everything as it is andgo without a prescription. Again, this coverage is optional, but if you chooseto add it at a specific time, you may be charged a late entry fee.