Minnesota Health Insurance, Minnesota Small Business Health Insurance, HSA Quotes

Mrhealthinsurance.net
Medica Part D Rider - Questions and Answers - Medica Part D Coverage

 
What is Medicare Part D?
Medicare Part D is prescription drug coverage provided by private companies that are approved to do so by Medicare. You may choose and join the Medicare drug plan that works for you and pay a monthly premium. All Medicare Part D drug plans must provide coverage that is at least as good as Medicare’s standard prescription drug coverage benefit. If you decide not to join a Medicare drug plan when you are first eligible, you may have to pay a penalty if you decide to join later.

What if I already have prescription drug coverage?

If you already have prescription drug coverage, you should talk to your current plan, employer benefits administrator (if your coverage is through an employer), or your insurer before making any changes. You will be notified about any changes to your current prescription drug coverage so you may decide if you should join a Medicare drug plan.

Should I join a Medicare drug plan even if I don’t take many prescription drugs?

You should still consider joining a Medicare drug plan in 2006. As we age, most people need prescription drugs to stay healthy. For most people, joining now means you will pay the lowest possible monthly premium. If you choose not to join when you are first eligible and later change your mind, you may pay a penalty.

When may I join if I miss the May 15, 2006 deadline?

You will be able to join November 15 through December 31 of each calendar year. Your coverage would begin January 1 of the following year. If you choose not to join when you are first eligible and later change your mind, you may pay a penalty.

What are the out-of-pocket costs for Medicare prescription drug coverage?

Your costs will vary depending on which plan you choose. Your plan must provide a standard level of coverage that is at least as good as Medicare requires.

What do I need to know if I have drug coverage from TRICARE, the Department of Veteran’s Affairs (VA), or the Federal Employee Health Benefits Program (FEHB)?

As long as you still qualify for drug assistance through these programs, your TRICARE, VA, or FEHB prescription drug coverage is not changing. You should contact your benefits administrator or FEHB insurer for information about your TRICARE, VA, or FEHB coverage before making any changes if you are thinking of purchasing approved Medicare Part D coverage through a health plan. It will almost always be to your advantage to keep your current coverage without any changes. If you lose your TRICARE, VA, or FEHB coverage and you join a Medicare drug plan after May 15, 2006, in most cases, you won’t have to pay a penalty, as long as you join within 63 days of losing TRICARE, VA, or FEHB coverage.


Medica Prime SolutionSM is a Medicare Cost product offered by Medica Insurance Company, an insurance company with a Medicare Cost contract. Medicare-eligible beneficiaries must be entitled to Part A and enrolled in Part B or Part B only to apply. Beneficiaries must use Medica network providers to receive their highest level of benefits, except for emergency and urgently needed services (unless they activate their Extended Absence Option).
 

Here is our contact information, please feel free to call us or email us anytime with any questions you may have.

    Telephone 612-991-3546 Fax 763-390-3129 Toll Free 1-877-800-7340

Postal address 515 Pineview Lane N. Plymouth, MN 55441

Electronic mail

 

 Home ] About Us ] Site Map ] Resources ] Health News ] Privacy Policy ] Testimonials ] Seguro Medico ] Feedback ] Health Quotes ]877.800.7340 local 612.991.3546
 
Mrhealthinsurance.net is a licensed Minnesota health insurance agency and online source for individuals, self employed, and small businesses to find, compare and buy Individual Health Insurance, Family Health Insurance, Small Business Health Insurance, Self Employed Health Insurance, and Health Savings Accounts (HSA).

After providing your basic information on our health insurance quote form, you'll receive free quotes, compare plans side by side, and apply for coverage either online or by submitting paper applications. If you have a question or need personal assistance, you can contact one of our licensed agents for the answers and unbiased advice you need to make the most of your insurance dollars
.