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How Medicare Prescription Plan works with other Insurance

Sudhir Mathuria HEALTHLIFE 360 713-771-2900

Sudhir Mathuria
HEALTHLIFE 360
713-771-2900

Employer or union health coverage
Employer or union health coverage refers to health coverage from your, your spouse’s, or other family member’s current or former employer or union. If you have prescription drug coverage based on your current or previous employment, your employer or union will notify you annually about whether your prescription drug coverage is creditable. Keep the information you get from them for future reference.
If you join a Medicare Prescription Drug Plan, you, your spouse, or your dependents may lose your employer or union health coverage.
COBRA
There may be reasons why you should take Medicare Part B instead of, or in addition to, COBRA. If you take COBRA and it includes creditable prescription drug coverage, you’ll have a special enrollment period to join a Medicare Prescription Drug Plan without a penalty when COBRA ends
Medicare Supplement Insurance (Medigap) policy with prescription drug coverage
It may be to your advantage to join a Medicare Prescription Drug Plan because most Medigap drug coverage isn’t creditable. You may pay more if you join a drug plan later.
Medigap policies can no longer be sold with prescription drug coverage, but if you have drug coverage under a current Medigap policy, you can keep it. If you join a Medicare drug plan, your Medigap insurance company must remove the prescription drug coverage under your Medigap policy and adjust your premiums. Call your Medigap insurance company for more information.
Medicaid
Your drug costs are covered by Medicare. You’ll need to join a Medicare Prescription Drug Plan for Medicare to pay for your drugs.
In most cases, you’ll pay a small amount for your covered drugs. If you have full coverage from Medicaid and live in a nursing home, you pay nothing for covered prescription drugs.
If you have full coverage from Medicaid and live in an assisted living or adult living facility, or a residential home, you’ll pay a small co-payment for each drug.
If you don’t join a drug plan, Medicare will enroll you in one to make sure you don’t miss a day of coverage. If you decide you want another plan, you can switch to another plan at any time.
Supplemental Security Income (SSI) Benefits
If you get benefits or help from your state Medicaid program paying your Medicare premiums, you need to join a Medicare Prescription Drug Plan for Medicare to cover your drugs. You automatically qualify for Extra Help with your prescription drug costs. If you don’t join a plan, Medicare will enroll you in one to make sure you don’t miss a day of coverage.
Long-term care facility
Long-term care pharmacies contract with Medicare Prescription Drug Plans to provide drug coverage to their residents. If you’re entering, living in, or leaving a nursing home, you’ll have the opportunity to choose or switch your Medicare drug plan. This allows you to choose a plan that contracts with your nursing home’s pharmacy
HUD housing assistance
If you get housing assistance from the Department of Housing and Urban Development (HUD), you may want to join a Medicare Prescription Drug Plan.
If you qualify for Extra Help, you won’t lose your housing assistance. However, your housing assistance may be reduced as your prescription drug spending decreases. The value of the Extra Help paying your drug costs will make up for any decrease in your housing assistance.
Federal Employee Health Benefits (FEHB) Program
The Federal Employee Health Benefits (FEHB) Program plans usually include prescription drug coverage, so you don’t need to join a Medicare drug plan. However, if you decide to join a Medicare drug plan, you can keep your FEHB plan, and your plan will let you know who pays first.
Veterans’ Benefits
You may be able to get prescription drug coverage through the Veterans Affairs (VA) program. You may join a Medicare Prescription Drug Plan, but if you do, you can’t use both types of coverage for the same prescription at the same time.
To enroll in suitable Medicare Advantage Plan, Medicare Prescription Drug plan or Medicare supplement plan contact Sudhir Mathuria 713-771-2900.
Read the complete report online at: www.voiceofasiaonline.com


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