Indiana’s Medicare Part D offerings include 25 separate plans from 14 different health care providers. Plans range from $18 monthly to $130 monthly, with seven plans offering additional gap coverage. To enroll in an Indiana prescription drug plan under Part D, you’ll need to be enrolled in Original Medicare Part A or Part B. Once that is accomplished, you’ll need to contact the administrator of the Part D plan you’ve selected and fill out an application form. This form may appear online at the company’s website. Alternatively, you may have to fill out a traditional paper form. Once you have done your research and selected the best Part D plan for your individual needs, you should enroll immediately so as to avoid any possible late enrollment fees or monthly premium penalties.
Medicare Part D vs. Medicare Advantage
Medicare Part D and Medicare Advantage (sometimes called Medicare Part C) both provide prescription drug coverage. While Part D focuses exclusively on drugs, Advantage plans give you all of the coverage from Original Medicare Parts A and B plus additional optional Advantage-specific coverages. While both Part D and Advantage plans are both administered by third-party health care companies under the direction of Medicare itself, the similarities stop there. There are a wide range of possible coverages, costs, and availability issues, which means that you should carefully shop around and compare policies to ensure that you get the best possible prescription drug coverage.
If you are already enrolled in a Medicare Advantage plan but you think that a Part D prescription drug plan will better fit your needs, contact your Advantage administrator before making any plan changes. In some cases, enrolling in Part D will automatically cancel your Advantage plan and revert you back to Original Medicare Part A and B, which could result in substantial changes to your available healthcare and coverage costs.
When to sign up
Timely application to Medicare is essential, since both the federal government and private healthcare firms can and do penalize late enrollment with fees and increased monthly premium charges. In some cases, missing an enrollment period can even lead to an audit of your current medical condition, which can lead to rejected coverage applications or increased premium costs. The Initial Enrollment Period for Part D prescription drug coverage is a seven-month window based on your Original Medicare eligibility date. This date is based on your birth month and your 65th birthday. Your Initial Enrollment Period for Part begins three months prior to your Original Medicare Eligibility date and concludes four months after it.
If you fail to enroll during the initial seven-month period, you can also enroll during the Annual Election Period. This period occurs once per calendar year, starting on October 15th and ending on December 7th. If you miss both the Initial Enrollment Period and the Annual Election Period, you may still qualify for enrollment during a Special Election period which Medicare provides to assist those who have lost prior insurance coverage or who are undergoing other extenuating circumstances that prevented prior enrollment. Contact Medicare at 1-800-633-4227 to see if you qualify.
What are my choices?
The Medicare Part D plans in the preceding table are provided in all Indiana counties. Your particular county may feature additional plans or services. Contact your local Medicare office for further information.
Plans are subject to change as contracts are finalized.
Includes contracts/plans as of April 22, 2016. The data does not reflect information for employer-sponsored plans, Part B-only plans, or plans not offering a Part D drug benefit.