What Is Medicare Prescription Drug Plan?
Medicare Prescription Drug Plan – Medicare Part D is the federal government’s prescription drug program; that covers both brand-name and generic prescription drugs at participating pharmacies in your area. The coverage is available to all people eligible for Medicare, regardless of income and resources, health status, or current prescription expenses. Medicare prescription drug coverage provides protection for people who have very high drug costs.
The lowest cost Medicare Part D/ Medicare Prescription Drug Plan in Oregon starts at $14.50/month.
Do you need Medicare Prescription Plan (Part D)?
If you use few or no drugs right now, you may be asking yourself if you really need to sign up for a prescription plan. When this dilemma arises, just keep in mind that Medicare Part D is not just a government benefit. It primarily works like insurance. It ensures that you are protected against high drug costs if and when you need it in the future. On this instance, you can opt for a Part D plan that has the lowest premium which can give you coverage at a lower price.
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Good news from Medicare Prescription Plan! You may qualify for EXTRA HELP.
This is to help pay for your prescription drug plan and copays. If your income is below $17,505 per year for a single person (or $23,595 for a married couple living together or even more if you have dependent children or grandchildren living with you); AND if your assets are below $13,440 for a single person (or $26,860 if you are married). (DO NOT count your home, vehicles, personal possessions, life insurance, burial plots, irrevocable burial contracts or back payments from Social Security or SSI.)
Some people get Extra Help automatically.
These include people who:
- have dual eligibility (enrolled in both Medicaid and Medicare)
- receive Supplemental Security Income (SSI)
- qualify for a Medicare Savings Program