There are two ways to get Medicare Prescription Drug Plan coverage:
- You can add drug coverage to the traditional Medicare plan through a “stand alone” prescription drug plan.
- Or you can add drug coverage and the rest of your Medicare coverage through a Medicare Advantage plan, like an HMO or PPO, that typically provides more benefits at a significantly lower cost through a network of doctors and hospitals.
No matter where you get your Medicare Prescription Drug Plan, you can choose a plan that reflects what you want in terms of the "three C’s":
- Cost: What you pay for the Medicare Prescription Drug Plan coverage, including premiums, deductible, and payments for your drugs.
- Coverage: What benefits are provided (like coverage in the “coverage gap” and other coverage enhancements), which drugs are covered and the rules (like prior authorization) for getting those drugs.
- Convenience: Which pharmacies are part of that Medicare Prescription Drug Plan, and whether the plan has a mail-order option.
