Prescription Drug Plans – What You Need To Know
There is no compulsory health insurance in the United States. The costs of medicine are borne by each individual person.
Medicare offers prescription drug coverage to everyone with this insurance plan. To get Medicare drug coverage, you must join a plan run by an insurance company or other private company approved by Medicare. Each plan has its own cost and drugs covered.
There are 2 ways to get drug coverage:
- A Medicare Prescription Drug Plan (Part D);
- A Medicare Advantage Plan (Part C).
Visit Medicare.gov for more information on these two options.
Insurance usually covers the cost of drugs, most of which are only available on prescription. Insurance usually covers the cost of drugs, most of which, in particular antibiotics, are available only by prescription. Over the counter medications include many painkillers, antipyretics, allergy medications, colds, and other drugs. if you suffer from chronic diseases, then when choosing a health insurance plan, be sure to check out the list of drugs covered by insurance to find out if your drugs are included in it and how much you will need to pay for them.
To navigate well when choosing insurance plans, it is also recommended to learn a few terms:
- premium – a monthly amount to be paid for the insurance;
- deductible – the amount you have to pay for medical services before your insurance begins to cover them;
- co-payment – a fixed amount of surcharge for a visit to a doctor, medical service or prescription drugs;
- co-insurance – coverage of expenses by the insurance company and you as a percentage, starting after the full payment of “deductible”;
- out-of-pocket limit – the maximum amount spent out of your pocket during the year, After you spend this amount, the insurance begins to cover your expenses in a 100% amount.
Depending on the coverage percentage of medical expenses, many insurance plans are divided into:
- bronze (the insurance company pays up to 60%);
- silver (the insurance company pays up to 70%);
- gold (the insurance company pays up to 80%);
- platinum (the insurance company pays up to 90%).
Depending on the level of the plan, the cost of insurance increases and the amount you have to pay for prescription drugs decreases.
Category: Health Care