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Sparks Nevada Medicare Part D – Prescription Drug Coverage

Medicare Part D prescription drug coverage, often referred to as Part D, is provided and coordinated by Medicare-approved private insurance companies. Any beneficiary who is eligible for Original Medicare, Part A and/or Part B, and permanently resides in Sparks – Reno service area of a Medicare Prescription Drug Plan, can sign-up for Medicare Part D.

Medicare Part D coverage is optional, but if you don’t enroll in Part D as soon as you’re eligible, you might pay a late-enrollment penalty if you enroll later.

Nevada Medicare can provide free personalized assistance and show you a solution that gives you peace of mind, so you can focus on the things you want. Our Customer Care Team stands ready to help you with any topic. Remember our services are always free.

Key Points to Part D – Prescription Drug Plan:

  • Medicare Part D is simply insurance for your medication needs
  • Beneficiaries can enroll in a standalone Part D drug plan that goes alongside your Original Medicare benefits
  • Some Medicare Advantage plans have a built-in Part D drug plan
  • You pay a monthly premium to an insurance carrier for your Part D plan. In return, you use the insurance carrier’s network of pharmacies to purchase your prescription medications. Instead of paying full price, you will pay a copay or percentage of the drug’s cost. The insurance company will pay the rest.

 

Below is the current Prescription Drugs Statistics in our Nation (according to Kaiser as of 2019):

  • 58% of Seniors are currently taking at least one prescription medicine
  • 27% say they take four or more prescription drugs
  • 35% of those taking 4 or more prescription drugs say it is difficult for them to be able to afford prescription medication
  • 30% claim they did not take any prescription medication as directed due to cost
  • 45 Million beneficiaries have prescription drug coverage through medicare
  • 6 Million are in Stand-Alone Part D plans as a supplement to traditional Medicare
  • 4 Million are enrolled in a Medicare Advantage Prescription Drug Plans

 

Enrollment in Medicare Part D plans is voluntary, with the exception of seniors who are eligible for both Medicare and Medicaid and certain other low-income beneficiaries who are automatically enrolled in a prescription drug plan if they do not choose a plan on their own. Unless you have drug coverage from another source that is at least as good as standard Part D coverage also known as “creditable coverage”, you could face a penalty equal to 1% of the national average premium for each month you delay enrollment.

To learn more about how Part D works and what it covers including the 3 levels of assistance programs available to Nevada beneficiaries in Sparks please go to What is Part D in Learn About Medicare.

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The first step to setting up affordable and proper coverage is knowledge. Let us help you learn your benefits. Our Medicare help is always free Contact Us