Plans for Medicare Part D will cover the costs of prescription. Most of the time, they are administered by private insurance companies. This will require people more than 65 years and above to have some form of coverage.
Know that if people don’t have any coverage for prescription drugs, they may be fined and penalized. Patients with end-stage renal diseases, disabilities, or ALS, or amyotrophic lateral sclerosis may become eligible. Some may ask questions like how do I enroll in medicare part D? What are the benefits I can get? These are just some of the common questions asked. If this is you, then you’re on the right page.
About the Eligibility
For you to sign up for this plan, you should have Part A and B before you can be eligible for Part D. You should be living as well in a specific service area according to the specifications of the package where you want to join.
The ones with the bundled advantage plans that have included coverage prescription medicines know that they won’t be able to enroll in the Part D standalone plan.
Regardless of how you qualify for specific eligibility, know that you’ll receive the very same level of coverage as everyone else. You can be eligible if you meet these criteria:
You Are 65 Years of Age
The main requirement is for you to be 65 years old. You can sign up for the part A and B packages and be given a seven-month window for enrollment. Know more about Part A on this page here. You’ll start at the third month before you turn 65, continue through your birth month and end three months after your birthday has passed. When you decide to enroll outside of the seven-month window, know that you can be charged with a higher premium.
Patients with disabilities can qualify for Medicare regardless of their age. The medical condition needs to be confirmed by a state physician. There should be financial support coming in from the Social Security Administration in the last two years, or they must have received payment aids from the Railroad Retirement Board.
Some of the examples of medical conditions include chronic back pain, Alzheimer’s disease, and mental health illnesses.
Have an ESRD
Those who have end-stage renal disease can be eligible for coverage. These are for individuals who need regular dialysis, have experienced a kidney transplant, both of the organs have stopped working, and many other factors.
In some cases, the coverage will end when the patient has stopped dialysis treatment for a year, and they will start again once they’ve had a kidney transplant.
You can qualify if you have ALS or Amyotrophic Lateral Sclerosis. This is usually known as Lou Gehrig’s disease, where you’ll automatically be enrolled. This is the same month when you may have received an annuity check from the Railroad Retirement Board. The benefits can come rolling in after a doctor’s diagnosis of ALS. Read more about ALS on this link: https://www.medicalnewstoday.com/articles/281472.
Enrollment Period to Know About
Parts A, B, and D have an initial enrollment of the seventh-month period after the 65th birthday. However, you can be granted various windows depending on your situation. A patient can switch from the Part D type of plan to an advantaged one when they want to. Some of the critical times to know about are the following:
October 15 up to December 7
This is the time where patients or those who are enrolled can switch their current arrangements or join a new prescription medicine plan.
It involves those who wish to make a switch from the standard package to the Advantage plan itself. The new coverage involved can begin the following year on January 1.
Some people see some 5-star rating from a particular insurance provider. This is when they may decide on a package that can cater more to their needs than what they have on their current plan. This is applicable for those who wanted to get the 5-star plans if they don’t have this at the moment.
January 1 to March 31
This is the period when the enrollment usually ends during this time. They can leave their Advantage plan and transition into part D with the traditional packages for their healthcare needs.
Windows for Special Enrollment Period
There are times when Medicare allows for special enrollment periods, especially for those who want to enter Medicare Part D. This can be applied for many reasons like entering a new facility like nursing homes or moving out of a particular coverage.
December 8 to November 30
There’s a provision for the change to a 5-star SEP. This option allows the individual to join a package that has a 5-star rating granted by Medicare itself.
Penalties for Late Enrollment
Late penalties apply if an individual does not sign up during their period of eligibility. They may have the need to pay for the penalty, which can be credited to their prescription drug coverage. You can contact the right insurance provider to know more about this.