Medicare Part B vs. Part D
Medicare is the federal health insurance program for people aged 65 and older, as well as certain people with disabilities. Medicare Part B helps cover the cost of medical care, such as doctor’s visits, hospital stays, and durable medical equipment. Medicare Part D helps cover the cost of prescription drugs.
Medicare Part B
- Doctor’s visits
- Hospital stays
- Outpatient surgery
- Durable medical equipment, such as wheelchairs and walkers
- Preventive care services, such as flu shots and cancer screenings
Medicare Part B also covers certain prescription drugs, such as those administered by a doctor or in a hospital.
Medicare Part D
Medicare Part D is a voluntary prescription drug program. If you have Medicare Part B, you can choose to enroll in a Medicare Part D plan. Medicare Part D plans are offered by private insurance companies.
Medicare Part D plans cover a wide range of prescription drugs, including brand-name and generic drugs. However, each plan has its own formulary, which is a list of the drugs that the plan covers.
Which is right for me?
If you have Medicare Part B, you should consider enrolling in a Medicare Part D plan if you take prescription drugs. Medicare Part D plans can help you save money on your prescription drugs, especially if you take multiple drugs.
If you do not take prescription drugs, you may not need to enroll in a Medicare Part D plan. However, you may want to consider enrolling in a Medicare Part D plan if you think you may need prescription drugs in the future.
How to choose a Medicare Part D plan
If you decide to enroll in a Medicare Part D plan, it is important to compare plans from different insurance companies. You should consider your individual needs and budget when choosing a plan. Here are a few things to keep in mind when choosing a Medicare Part D plan:
- Monthly premium: How much can you afford to pay in monthly premiums?
- Formulary: Does the plan cover the drugs you take?
- Deductible: How much money are you willing to pay out of pocket for prescription drugs before your insurance starts to pay?
- Copay: How much will you have to pay for each prescription drug?
- Out-of-pocket maximum: How much money are you willing to pay out of pocket for prescription drugs in a year?
You can use the Medicare Plan Finder to compare Medicare Part D plans from different insurance companies. You can also contact insurance companies directly to get quotes.
Conclusion
Medicare Part B and Medicare Part D are two important parts of Medicare. Medicare Part B helps cover the cost of medical care, while Medicare Part D helps cover the cost of prescription drugs. If you have Medicare Part B, you should consider enrolling in a Medicare Part D plan if you take prescription drugs.
