What else do I need to think about before I decide to get Medicare prescription drug coverage?
Before you make a decision, you need to answer the following questions:
If you have drug coverage now, is it creditable prescription drug coverage (is it expected to pay, on average, at least as much as standard Medicare prescription drug coverage)? Your current plan can tell you.
If you have drug coverage now, should you keep it?
If you join a Medicare drug plan and keep your current drug coverage, how will it affect your current coverage? Your current plan can tell you.
How would a particular Medicare drug plan affect your out-of-pocket costs?
If you wait to join a Medicare drug plan, would your premium be higher later because you have to pay a late enrollment penalty? Would your coverage start when you wanted it to?
Does a Medicare drug plan in your area cover the drugs you take?
Can you get extra help paying for your prescription drug costs if you join a Medicare drug plan?
Is there a particular pharmacy you want to use?
Do you spend part of each year in another state? This may be important if the plan requires you to use certain pharmacies.
(Primary Source: Centers for Medicare and Medicaid Services - Your Guide to Medicare Prescription Drug Coverage 2008. This content may have been enhanced by Q1Group LLC to include further examples, explanations, and links.)
Medicare Supplements fill the gaps in your Original Medicare