Medicare Part D - Prescription Drug Coverage

Medicare Part D is a program that is added to traditional Medicare for prescription drug coverage. There is an additional monthly premium of between $16 and $40 dollars for most people who take generic drugs. There are different Medicare part D plans that are better depending on your drug formulary. You can visit the website for exact plans in your area. As a free service, our Fort Myers Insurance Agent helps all of our clients pick out the prescription drug coverage that is right for them.

Medicare Part D Plan Finder at

what is the late enrollment penalty for Medicare Part D?

The penalty is an amount added to your part D premium. If you do not join a Medicare drug plan when you first eligible for Medicare Part A and B or you did not have Medicare part D for 63 days or more days in a row.


What do I pay for Medicare Part D?

1. Monthly premium

2. Yearly deductible - This is the amount that you must pay out-of-pocket before your drug plan begins to pay its share. Some plans have a yearly deductible and some do not.

3. Copayments or coinsurance - This is the amount that you pay at the pharmacy for your covered drugs. You pay your share and the drug plan pays its share too.

4. Coverage gap "donut hole" - This means that once you and your prescription drug coverage have paid a specific amount currently $2,840.00 in 2011. You must pay all drug costs until you have spent $4,550 out-of-pocket for the year.

Video explanation of Medicare Part D


10 Steps to understand Medicare Supplemental Insurance

Medicare Part A - Hospital Insurance is coverage for inpatient hospital care, skilled nursing, hospice and some home healthcare, it can be thought of as room and board.

Medicare Part B - Medical Insurance is coverage for the services of medical professionals and supplies such as durable medical goods.

Medicare Part C - Medicare Advantage is private insurance that you can obtain by dropping traditional Medicare. It is also called Medicare Advantage..

Medicare Part D - Prescription Drug Coverage is insurance coverage that is added to traditional Medicare. It is usually purchased in addition to a Medicare Supplement.
Deciding between Medicare Supplement or Medicare Advantage? Choosing between Medicare Supplement and Medicare Advantage is an important decision we have provided a side by side comparison.

Gaps in Medicare Coverage Medicare part A and B recipients still have out-of-pocket charges in the form of deductibles, copayments, coinsurance, and benefit periods. We have outlined the current out of pocket charges.

Compare the different Medicare Supplement Plans Medicare Supplement plans A, N, and F are the most popular. Depending on your specific needs you may find one of the other plans more beneficial for you.
Medicare Supplemental Plan F is by far the most popular Medigap policy, it is also the most comprehensive covering more than any other plan.

Medicare Part B - Excess Charges are charges above the Medicare approved amount for a procedure, most doctors accept Medicare assignment but some specialists charge 115% of the Medicare approved amount.

Get Quotes for Medicare Supplements in your area click on the previouse link to get quotes for Medicare Insurance products in your area.


**The information on this website is intended for informational purposes only and may change at any time.   Medicare Supplement Advisor and V. Reed Speas himself are not connected with or endorsed by the U.S. government or the federal Medicare program.

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