Issues and Perspectives - Medicare Part D FAQs

In an effort to facilitate a better understanding of your options regarding the new Medicare Part D — Prescription Drug Plan, TMAIT has assembled answers to the most frequently asked questions on the subject. Please note that this is a small sampling of issues regarding this type of coverage and you should consult with one of our representatives for detailed information. For more information, please feel free to contact us at 1.800.880.8181 weekdays from 7:30 a.m. to 5:30 p.m., or e-mail us at contact@tmait.org.

Q. What is Medicare prescription drug coverage?

A. Medicare prescription drug coverage is insurance that covers both brand-name and generic prescription drugs at participating pharmacies in your area. Medicare prescription drug coverage provides protection for people who have very high drug costs or from unexpected prescription drug bills in the future.

Q. Who can get Medicare prescription drug coverage?

A. Everyone with Medicare is eligible for this coverage, regardless of income and resources, health status, or current prescription expenses.

Q. When can I get Medicare prescription drug coverage?

A. You may sign up when you first become eligible for Medicare (three months before the month you turn age 65 until three months after you turn age 65). If you get Medicare due to a disability, you can join from three months before to three months after your 25th month of cash disability payments. If you don't sign up when you are first eligible, you may pay a penalty. If you didn't join when you were first eligible, your next opportunity to enroll will be from November 15 to December 31 of each year.

Q. Why should I get Medicare prescription drug coverage?

A. Medicare prescription drug coverage provides greater peace of mind by protecting you from unexpected drug expenses. Even if you don't use a lot of prescription drugs now, you should still consider joining. As we age, most people need prescription drugs to stay healthy. For most people, joining now means protection from unexpected prescription drug bills in the future.

Q. Do I continue to keep Medicare Part A and Part B?

A. Yes. Those who are eligible keep Medicare Part A and Part B.

Optional coverage to pay after Medicare is a supplement plan to cover hospital and physician services not covered by Medicare, such as TMAIT's Option 16 and a Part D plan to cover prescription costs.

Q. Do I get Part D through Medicare? Who do I pay my premiums to?

A. No. You do not enroll through Medicare.

You enroll with a CMS-approved carrier and pay premiums to that carrier. TMAIT will be able to help you enroll in plans if you choose to do so.