Choosing a Medicare Part D Prescription Drug Plan

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.

  1. Are my parent's prescription drugs in the plan's formulary?

  2. Are my parent's prescription drugs placed in tiers?

  3. What would my parent's monthly co-payments be?

  4. Does the plan do prescription drug substitution?

  5. Would any of my parent's prescription drugs require prior authorization?

  6. Is step therapy a requirement for any of my parent's prescription drugs?

  7. Is there any coverage in the "doughnut hole"?

  8. Does the plan waive any of the yearly deductible?

  9. Does my parent's preferred pharmacy participate in the prescription drug plan?

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