Medicare Advantage Prescription Drug (MAPD) plans offer a streamlined way to manage medical costs and coverage with a single plan. To understand how these plans can benefit you, you need to know a little bit of background on Medicare.
Original Medicare benefits include Medicare Part A and Medicare Part B.
With Original Medicare, you get a solid base of health care coverage. But it leaves out several important areas.
Medicare Advantage plans, including Medicare Advantage Prescription Drug (MAPD), fill these gaps with coverage for additional services. These plans can include:
With this in mind, follow our tips to enjoy the benefits of MAPD plans.
MAPD plans are offered by private insurance companies. This means that plans can vary from company to company. Each plan comes with its own costs and coverage limitations, so it’s important to find out which plans are available to you and understand the differences between them.
Our advisors know how to quickly and efficiently compare plans, so we can help you streamline the selection process. Let us do the research for you.
All MAPD plans include prescription drug coverage. However, not all plans cover the same medications. If you have medications that you routinely take, our advisors will work with you to find a plan that covers them.
Insurance companies form relationships with different pharmacies to provide coverage. As a result, MAPD plans specify particular pharmacies that are considered “in plan.” You may be charged a fee or higher costs if you fill your prescriptions at a pharmacy not covered by your plan.
Same as with your medications, our advisors can check that your preferred pharmacy is covered when we help you review the benefits of MAPD plans.
Additional benefits of MAPD plans can include stipends for over-the-counter products at your local pharmacy. You can use these on over-the-counter medications, vitamins, and other medical supplies. The savings can add up. We will help you check for these benefits!
Benefits of MAPD plans can vary widely, so you’ll have to be conscious about knowing what services and discounts are offered to you if you enroll. Your plan may offer a fitness benefit, for example. This may give you a discount on your gym membership or access to an exclusive fitness program.
If your plan offers fitness benefits, our advisors can assist you in finding out how to attend workouts in-person or virtually.
MAPD plans offer the convenience of having a single plan with all-in-one coverage. Compared to Original Medicare, you can get access to more covered services and choose from a wider variety of plans. That way, it’s easier to find the plan that works best for your needs.
Our team makes it easy to find a plan that works for your needs, whether you have questions about the benefits of MAPD plans or how to enroll in Medicare for the first time.
Are you new to Medicare? To get started, you can email advice@retiremed.com or schedule a call. Our advisors will contact you directly to learn about your needs and give you advice on your next steps.
Are you already a client of RetireMed? Your client advisor team can help you with any questions when you email client@retiremed.com or call 877.222.1942.
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