Do Medicare Supplement Plans Include Perscription Coverage?
The standardized Medicare Supplement Plans (such as F, G & N) do NOT cover prescriptions. By law, they are not permitted to. Prescriptions are covered under a separate insurance plan, referred to as “Part D.” In most areas, there are about 25 different companies offering Part D, drug plans. Each plan covers prescription drugs differently. It is wise to call 1-800-MEDICARE to find out what drug plan is the best fit for your particular drugs. You can generally do this, 1-2 months before you start Medicare for the first time and each year between October 15th and December 7th.
Even if you do not take any prescriptions drugs it is a good idea to buy a drug plan. If you do not sign up for a Part D plan when you are first eligible, the government imposes a late fee that is calculated by the number of months you went without a plan and this fee NEVER GOES AWAY!