Understanding the Medicare Prescription Drug Plan

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Things to consider when choosing prescription benefit coverage

A Medicare prescription drug plan can give you some relief from the high cost of medications, but all this new information can be hard to understand. It's natural that you might want some help sorting it all out. If you're considering a Medicare prescription drug plan, please keep the following issues in mind.

Facts about Medicare prescription drug plan enrollment

  • If you purchase a stand-alone Medicare prescription drug plan while you're enrolled in a Medicare Advantage plan with prescription drug coverage (MAPD), you'll be automatically disenrolled from the MAPD plan.
  • A Medicare prescription drug plan is an option, not a requirement. You do not have to enroll in Medicare Part D. However, even if you do not take many prescription drugs now, you should still consider joining a plan so in the future you will have the coverage you need.
  • If you were eligible for Medicare, but did not join a Medicare prescription drug plan by May 15, 2006, and you do not have a drug plan that covers as much or more than a Medicare prescription drug plan, you may have to pay more each month, at least 1 percent more (of the national average premium) for every month you wait.

Medicare prescription drug plan eligibility requirements

  • To enroll in a Medicare drug plan, you have to meet eligibility requirements
  • If you're entitled to Part A and/or enrolled in Part B of Original Medicare and live in the service area, you're eligible to join

Medicare prescription drug plan benefits vary

  • Stand-alone Medicare prescription drug plans have a monthly premium in addition to any Medicare premium you already pay
  • If you need coverage for prescription drugs and doctor and hospital visits, you should consider purchasing a Medicare Advantage plan. A Medicare Advantage plan (including most of Humana's plans) may be able to provide you with doctor and hospital coverage and prescription drug coverage all for one plan premium. Explore Humana's all-in-one Medicare Advantage plans
  • Humana's prescription drug plan benefits are equal to, or better than, Medicare's required minimum

When you enroll affects your effective date and premium

  • In most cases, your coverage becomes effective on the first day of the next month after you join. If you are enrolling close to the end of the month, we recommend enrolling here on our Website or by phone.
  • If you were eligible for Medicare, but did not join a plan by May 15, 2006, and you do not have a drug plan that covers as much or more than a Medicare drug plan, you may have to pay more each month; at least 1 percent more (of the national average premium) for every month you wait.

Humana's prescription drug plans deliver more than drug coverage

When you enroll in a Humana prescription drug plan, you gain access to guidance, support, and convenience through things like:

  • MyHumana — your secure Web page that offers online resources to help you make informed healthcare decisions. Take a tour now
  • Maximize Your BenefitSM Rx — a Humana Pharmacy Solutions program that delivers messages about potential savings opportunities for high-cost medications. Find out more about Maximize Your Benefit Rx
  • SmartSummary Rx® — a personalized  statement that sums up your prescription drug spending and benefits any month you have a claim. Learn more about SmartSummary Rx

If you need drug coverage AND health coverage — Explore Humana's all-in-one Medicare Advantage plans

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