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Ashford Insurance

Texas Medicare Prescription Drug Plans

Prescription Drug Plans Made Easy

Texas Medicare Prescription Drug Plans

Medicare Part D Prescription Drug Plans in Texas

Medicare Part D is a voluntary program that provides prescription drug coverage for people with Medicare. There are many different Part D plans available in Texas, so it is important to compare plans carefully before choosing one.

When comparing Part D plans, it is important to consider the following factors:

  • Monthly premium: The monthly premium is the amount you pay to the insurance company for your Part D coverage.
  • Deductible: The deductible is the amount you must pay out of pocket before your plan begins to pay for your prescription drugs.
  • Copays: Copays are the amount you pay for each prescription drug you fill.
  • Formulary: The formulary is a list of the prescription drugs that are covered by the plan.
  • Gap coverage: Some Part D plans offer gap coverage, which helps to pay for prescription drugs during the “donut hole” phase of coverage.

It is also important to consider your income when choosing a Part D plan. If you have low income, you may qualify for Extra Help, which can help to pay for your Part D premiums and out-of-pocket costs.

You can compare Part D plans in Texas using the Medicare Plan Finder tool. This tool can help you to find plans that fit your needs and budget.

Here are some additional things to keep in mind about Medicare Part D:

  • You can only join a Part D plan during certain enrollment periods.
  • If you miss your enrollment period, you may have to pay a late enrollment penalty.
  • You can change your Part D plan during the annual enrollment period or if you experience a qualifying event.

If you have any questions about Medicare Part D, please contact Ashford Insurance.

There is a Late Enrollment Penalty for not having creditable Prescription coverage.