My father in law just was put on Medicare. Does he have prescription coverage too?
Answer: Medicare does not cover prescriptions. It does cover drugs administered in the doctors office or hospital under Part B.
If he has a Medicare Supplement or just Medicare without any additional insurance he'll need to sign up for Part D. These plans are offered by private insurance companies. There can be a big difference in the co-pays with different plans. He'll need to check with each insurance company to find out how his prescriptions are covered or he can find a local agent that works with all the major companies that will do it for him. He'll need to find out what tier level his medications are. Generally, generic drugs are a tier one and will be a $0 to $10 co-pay but companies can have some generics as a tier three or higher with co-pays over $60.
If he has both Part A and Part B he can sign up for a Medicare Advantage plan (Part C). Many of these plans have Part D included. These plans are also offered by private insurance companies and have health coverage. A local agent is the best place to find these plans as well..
Not necessarily. There are three "parts" to Medicare.
Part A - hospitalization insurance
Part B - health/medical insurance
Part D - prescription medication insurance
He will have to make sure he has enrolled for all the appropriate parts. Part D is completely separate from parts A and B..
Yes, but it is limited and you should check with Medicare before something arises. yes