A Medicare Part D plan is one that helps to cover expenses related to prescription drugs. The regular Medicare plans do not provide any coverage for the expenses related to drugs which is a major monthly component of medical expenses for any insurer.
Coverage of Medicare Part D Plan
There are many prescribed drugs that are covered under this plan. Each drug has a different price based on the formulary category it belongs to making it easy for calculation of monthly drug expense for the insurer. The various categories of drugs that are covered under this plan are antidepressants, antipsychotics, anti-consulvants, anti-retrovirals (AIDS treatment), immune-suppressants and anti-cancer drugs. The premium that needs to be paid for the plan depends greatly on many factors such as the drugs used, the type of plan opted, network pharmacy, drugs part of Formulary and lastly additional coverage required by insurer for specific treatment of illnesses. This Medicare Pat D plan is available to those already enrolled for Part A and Part B plans.
Benefits Of Medicare Part D Plans
There are many benefits of Medicare Part D plans as given below:-
The insurer needs to pay a fixed monthly premium in order to avail the Part D benefits of the plan and this helps the insurer have a fixed commitment and also obtain benefit of coverage for drugs on account of this plan which is very reasonable.