Medicare part D helps you with the prescription drug cost and is administered by private insurance firms. Medicare is a requirement as long as you are above 65 years. If you don’t have it, you’ll pay the penalty fees.
However, it is not only for people who are 65 years. As long as you meet the criteria, you can qualify for medicare.
If you qualify for Medicare, you’ll qualify for part D. It is an optional benefit for people with Medicare. You can qualify for Medicare part D as long as you have enrolled in Medicare part A or part B. So, who is eligible for Medicare part D?
You cannot sign up for Medicare part D if you don’t have parts A and B and be a resident of the service area where you want to join.
For you to qualify for medicare part D, you should meet the following criteria.
Be 65 Years Old or Above
The main requirement to join Medicare is your age.
You’ll become eligible for part D three months before you turn 65 years and it extends to three months after your turn 65. Therefore, if you want to join Medicare part D, that is the appropriate time to do so.
If you enroll outside that period, you’ll be charged higher premiums.
To sign up, you have to provide the date you became eligible and your Medicare number. Enrollment in Medicare can be done online, call 800-MEDICARE, or call your provider directly.
There is a 7-month enrollment window for signing up for Medicare parts A and B.
Social Security Disability
You can also qualify for Medicare regardless of your age if a physician identifies you to have an eligible disability.
To qualify under the social security disability, you must have received financial support from the Railroad Retirement Disability benefits or the Social Security Administration for the last 24 months.
Examples of eligible disabilities are chronic back pain, mental health conditions, and Alzheimer’s disease.
You have been diagnosed with End Stage Renal Disease (ESRD)
If you are a Railroad employee, you’ll have to get in touch with Social Security to get more information on your medicare eligibility.
The other eligibility criteria for part D is if you have ESRD.
You’ll be eligible for Medicare within the first three months of receiving the kidney transplant.
You have ALS
If you have ALS, you’ll be eligible for Medicare the first month when you get your disability payment. You can qualify for Medicare if you are not yet 65 but have been diagnosed with amyotrophic lateral sclerosis (ALS).
You’ll get the medicare benefits as soon as you get diagnosed with the condition.
Medicare part D enrollment penalty
It is advisable to register for part D when you are eligible because there is a late enrollment penalty. If you fail to enroll in part D within 63 days of your eligibility period, you’ll pay the penalty.
The penalty rate is based on the national premium for the current year and is multiplied by the number of months you failed to enroll after your eligibility period. Therefore, the more you wait, the more money you’ll pay as a penalty.
However, you can avoid paying the penalty when you have creditable coverage from another plan.
Joining Medicare part D
There are numerous ways you can join the Medicare part D. They include:
Go to the medicare part D plan finder: from the website, you can find the plans available in your area. You can also compare plans.
Contact the state health insurance assistance program (SHIP): you’ll get the details on the medicare part D drug plans.
Contact the insurance company: you can also get in touch with your preferred insurance company. Call the company directly to find out about their medicare part D plans.
Medicare part plans will help you with the high medication costs. When choosing the medicare part D make sure you consider the convenience, quality, and cost. You can also look at the plan drug formula to ensure it covers longer medications you’ll take.
Medicare part D is essential since it helps you cover the prescription drugs that are not included in part A and part B. As long as you qualify for the other parts of Medicare, you’ll also qualify for Medicare part D.
The appropriate age is when you are 65 years of age. However, there are exceptions as you can see above. If you have any prescription drug coverage from your employer, it can be considered basic Medicare coverage.
Therefore, you can keep such a plan. When choosing a plan, go with the one that gives you the best coverage at an affordable cost. If you have any questions about your eligibility for part D, then you should reach out to 800-MEDICARE.