Medicare Prescription Drug Programs

With the introduction of Medicare Prescription Drug Plans, many senior adults find great confusion in working through the available benefit programs. While local pharmacies strive to understand the programs, and offer assistance to clients, the families of the senior adult would serve well to understand the programs offered in an effort to assist the elder family member in making the most educated decision.

First, the Medicare prescription drug programs are offered on one of two premises; either as a supplement through the original Medicare plan or through the additonal of coverage through Medicare replacement or Medi-Gap plans. Let's first address the basic criteria of the Medicare supplement plan attached to the original Medicare coverage.

The basic Medicare prescription coverage, provided by private health carriers, is provided without changing the basic Medicare coverage plan. For senior adults who are insured only by the federal Medicare program, under Part A or Part B, the Medicare prescription program can be purchased, separately, through a private insurance carrier as a supplement to the federal Medicare programs. Under these programs, an insurance premium is paid to the private insurance carrier and, in return, the Medicare receipient is given a prescription card which may entitle the Medicare beneficiary to a variety of prescription options including percentage discounts, co-insurance options and deductibles. The key to these plans is the requirement that the Medicare receipient pay the premium to the private insurance carrier, in addition to maintaining any premium payments to the federal Medicare program.