In 2006, Medicare finally began to offer some coverage for prescription drugs taken at home. But the coverage and costs in this Medicare Part D program are complicated. And the drug plans -- essentially insurance policies -- themselves are sold by private insurance companies, each one different from the others. When shopping for a plan, you need to consider a number of things beyond the monthly premium. The following points can help you and your parent choose from the various plans offered where she lives.
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Are my parent's prescription drugs in the plan's formulary?
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Are my parent's prescription drugs placed in tiers?
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What would my parent's monthly co-payments be?
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Does the plan do prescription drug substitution?
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Would any of my parent's prescription drugs require prior authorization?
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Is step therapy a requirement for any of my parent's prescription drugs?
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Is there any coverage in the "doughnut hole"?
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Does the plan waive any of the yearly deductible?
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Does my parent's preferred pharmacy participate in the prescription drug plan?
