To apply for Medicare Part D, sign up with the help of a licensed agent during your next available enrollment period.
Qualifying for Medicare Part D
To sign up for Medicare Part D, you need to be a Medicare beneficiary. Once you are signed up for either Medicare Part A or Part B, or both, you can select a Part D plan.
To qualify for Medicare, you must be a U.S. citizen or legal permanent resident of at least five years and be 65 or older, or have been receiving disability benefits for at least 24 months, or have ALS or end-stage renal disease.
Applying for Medicare Part D
Enrolling in Medicare Part D is a similar process to signing up for your other Medicare plans. Original Medicare (Part A and Part B) enrollment is done through Social Security, and you can sign up to receive your benefits by applying online at the official Medicare website, by calling Social Security, or by making an appointment with your local Social Security office.
Once you are enrolled in the initial coverage, you are able to sign up for the other Medicare plan types, which include Medicare Advantage, Medicare Part D, and Medicare Supplement policies.
To apply for Medicare Part D, you can find a plan with the right prescription drug coverage in your area and sign up during your enrollment period.
When to Sign Up for Part D
You can sign up for Medicare Part D during your initial enrollment period after you enroll in Part A or Part B. If you are turning 65, your enrollment period begins three months before the month of your birthday and ends three months after. If you qualify after receiving disability benefits for two years, you are automatically enrolled in Original Medicare and will need to sign up for Part D if you want to add prescription drug coverage. With ALS or end-stage renal disease, you can sign up once you become eligible for Medicare benefits.
If you do not sign up for Medicare during your initial enrollment period, you can sign up during general enrollment during the first three months of every year. If you do not add Medicare Part D right away when you sign up for Medicare, you can add prescription drug coverage during annual enrollment (October 15 to December 7).
Why You Shouldn’t Delay Part D
Like Medicare Part B, Part D has a late enrollment penalty. This adds to your premiums 1% of the national base premium multiplied by the number of months you went without having creditable drug coverage after you became eligible for Part D.
Choosing a Part D Plan
When you want prescription drug coverage, you should look for a Medicare Part D plan in your area. Whether you find a standalone Part D plan or a Medicare Advantage plan with prescription drug coverage, search for available plans that provide service to your region and cover all of the medications you currently use. Once you have narrowed your choices down to suitable coverage options, you can compare price and rating to get a sense of the value these plans will bring you. Choose a Part D plan that most closely matches all of your needs, from coverage to cost.
To learn more about applying for a Medicare Part D plan, book an appointment with Magellan Healthcare today.
