Medicare plan D is one of the best Medicare supplement plans. It is one of the standardized plans under the Medicare supplement plans available. The name Medigap plan D, Medicare Supplement plan D, and Medicare plan D means one and the same thing. But the plans are not the same as Medicare part D which is specifically for the coverage of prescription drugs.
Difference between Medicare Part D and Medicare Plan D
Although both of them are used to help in filling the gaps left by the original Medicare plan, they serve different purposes. Here are the differences:
Medicare Plan D
- Pays some costs which the original Medicare doesn’t cater for which mostly are coinsurance, copay, and deductibles
- You must have the original Medicare insurance (both parts A and B) in order to enroll
- It only works when you have the original Medicare
Medicare Part D
- It covers prescription drug to the beneficiaries of Medicare
- To enroll, you can have either part A or B and not necessarily both
- Part D plan which is standard will work with the original Medicare but instead, the prescription part will be included in the Medicare Advantage part C
Remember that, you can have a standalone Part D plan, Original Medicare, and Medicare supplement plan D, all of them at the same time. But it is not possible to enroll in the Medicare Supplement plan and Medicare Advantage at the same time.
Why Get Into The Medicare Plan D?
When you enroll in Medicare plan D, it will be able to help you in saving money on the original Medicare both part A and B copayments and coinsurance. When you have a Medicare plan D, you will be able to pay a monthly premium every month and the plan will cover your part B insurance at 100%.
Benefits of Medicare plan D
- No networks: You are at liberty to visit any provider anywhere across the country who accepts Medicare
- Foreign travel emergency benefits: The plan D will cover 80% of your total foreign emergency costs as long as you have paid a deductible of $250. You will be covered for the initial 60 days when you are on your foreign travels and have a lifetime limit of about $50,000
- Guaranteed renewables: Your plan will never be canceled as long as you are paying your monthly premiums.
Getting Medicare Plan D
You will only get them through private insurance companies. The best time to get it is during the open enrollment period of your Mediplan due to the fact that, at such a period, you will not need to go through the underwriting of medical.
- The open enrollment period of Medigap normally lasts for 6 months and it normally begins the month when you turn 65 years and are enrolled in part B
- When you enroll during the open enrollment period, you are at liberty to get onto any plan which is available in your area regardless of your health.
