Health Insurance guide

It is obvious to understand the importance of health insurance policy. Moreover, one should also know why to buy a policy for yourself and your family.

Health Insurance

It is a kind of agreement between the insurance company and a person where company is agree to meet the medical expenses of that insured person whenever there is a situation of hospitalization or any emergency, the company is liable to pay the medical cost of an insured person. Normally, the insurance companies have strong tie up with the reputed hospitals to do the treatment of an insured person free of cost. On the other hand, if they don’t have any tie ups with any of the hospitals, then the company will repay the expenses on behalf of the person who is insured under health insurance policy. By providing a deduction from the income tax, the government is also taking efforts to promote health insurance policy.

Medicare Part D

Medicare part D is often regarded as Part D and is recognized as well as provided by the medical insurance companies who are approved by the Medicare. Firstly, the beneficiary who is eligible for Part A and/or Part B for original Medicare can apply for Medicare Part D. Medicare Part D is quite optional. But if you will enroll late for Medicare Part D as soon as you are liable to sign up for Part D, then you have to pay late fee for the same. It is a kind of penalty for a beneficiary.

Through a stand-alone Medicare Prescription Drug Plan, you can get the coverage of Medicare Part D and eligible to enroll in medicare Part D. If you are a beneficiary of medical advantage plan, then you can get the same via a plan that have the benefits of drug and even, known as a Medicare Advantage Prescription Drug Plan. Various plans are offered by the different insurers on the basis of monthly premium. But the Medicare Part D cost and premium can change from one plan to other plan. Part D plan covers the various types of drugs on its formulary.

What the Part D plan cover

A standard level of coverage list for drugs is offered by each drug coverage plan that is prescribed by the Medicare. The list of prescriptions is varying in the plan as per the formulary. It also affects how they place different types of drugs in their formularies.


Most of the Medicare drug plans such as medicare Prescription Drug Plans and Medicare Advantage Plans have their own list of drugs that covered under the particular plan and known as formulary. The brand name prescription drugs as well as generic drug coverage, both are included in the plan. In the prescribed drug categories and classes, minimum two drugs are included. This helps the people with different conditions of medical to get the prescribed drugs they need. Per drug category cover at least two drugs under all medical drug plans but it depends on the plan that which drug will cover under Part D.

Any specific drug is not included in any formulary. A similar drug is offered in most of the cases. Even, you can ask for an exception when any doctor or prescriber who is allowed to write a prescription for you, believes that the drugs in your formulary is not beneficial for your medical condition.

Medicare Part D Cost

If you choose Part D as an original Medicare’s part, then you have to pay monthly portion of the premium. The Medicare Part D cost changes according to the plan you opt but on average basis, it is $34 per month nationwide. A copayment as well as coinsurance is needed in some cases of drugs.