What is Medicare Part D?
Part D, as it’s known today, was enacted as part of the Medicare Modernization Act of 2003. It refers to your drug coverage as a Medicare beneficiary and can be purchased as a standalone plan, or part of a Medicare Advantage program filed in Hawaii.
Part D, aka Prescription Drug Plan (PDP), provides annual coverage for your medications and offers a catastrophic level of protection to protect you from incurring very high drug costs.
Plan Advisors Helping Provide For Your Needs
When you visit with a Plan Advisors Hawaii agent, you’ll go through an objective exercise that quickly narrows options down to the most appropriate choices, based on your prescription needs. We plug your prescriptions into a “Plan Finder” tool to objectively determine 2-3 choices to consider.
Each plan has a premium, formulary, tiers for each medicine, and copays/coinsurances associated with each tier. Some plans have deductibles on certain tiers or all the tiers. With so many variables, a qualified agent (who is certified in running the Rx Plan Finder tools available) can save you time and money each season – as plans and plan benefits may change each year.