In Medicare Part D, insulin cost is $35 for 30 days. This may vary in every state. You can compare Part D plans by using Medicare’s find a planning tool. The list of medications and their cost can be changed at any time for different reasons. Medicare’s Part D covers all medications of following categories;
- Medication for cancer treatment
- Antidepressant medications
- Medications for seizure disorders
- Immunosuppressant medications
- Medications for AIDS
- Antipsychotic medications
Vitamins, supplements, cosmetics, fertility drugs, medications for weight loss, anorexia, cold, cough, and erectile dysfunction are not covered in Medicare’s Part D. The eligibility criteria for Medicare are the same as Medicare eligibility. Hundreds of plans are offered by private insurance companies. An appropriate plan depends upon the medications you take, your chronic conditions, and your financial status. The cost of Medicare Plan D depends upon coverage, out-of-pocket cost, your location, available plans, and coverage gaps. The estimated monthly premium cost for Part D in New York is $7.50-$94.80, in Dallas, is $7.30-$94.20, and in Los Angeles is $7.20-$130.40.
- Check what is Medicare supplement (Medigap) and how it covers medical cost
The supplement insurance policy that is used to cover the gaps of Original Medicare is Medigap. Medigap policies are sold by private insurance companies. Original Medicare covers much of the cost for healthcare services but not all. Medigap also helps you to pay for copayments, coinsurance, and deductibles. Some other services that are not covered by Medicare are covered by Medigap including healthcare if you travel outside the United States. Following are the features you must know about Medigap;
- You must be enrolled in Medicare Part A and Part B to get a Medigap policy.
- There is a difference between Medigap and Medicare Advantage Plan. Medigap supplements Medicare while the Medicare Advantage plan is used to add benefits to Medicare.
- The monthly premium for the Medigap policy is separate from the monthly premium of Part B. You have to pay a Medigap premium to the private insurance company.
- Medigap provides coverage to one person only. Both you and your spouse cannot use a single policy.
- Make sure to buy a policy from the licensed insurance company in your state.
- The insurance company is not allowed to cancel the policy until you pay for premiums.
- Insurance companies are not allowed to include prescription drug coverage in Medigap. You must pay separate premiums if you want to buy both policies from the same insurance company.
- No one can sell you Medigap if you already have Medicare Advantage Plan, it is illegal.
Long-term healthcare, vision care, dental care, and hearing aids are not covered by Medigap. Some insurance plans can be wrongly considered as Medigap but they are not a Medigap plan. For example, Medical Advantage Plan (HMO, PPO), Medicaid, Federal Employees Health Benefits Program (FEHBP), Medicare Prescription Drug Plans, veterans’ benefits, and long-term care insurance policies are not Medigap policies.