When you turn 65, become disabled, or you develop renal disease, you become eligible for Medicare. Under Parts A and B, you gain coverage for certain hospital and medical care. Hospital insurance falls under Part A, while medical insurance falls under Part B. Neither of these insurances, however, offer any Medicare drug plans.

Medicare Part A covers many hospital related costs. Inpatient care in a hospital or skilled nursing facility are covered. Hospice services and home health services are also covered under Part A. If you or your spouse paid Medicare taxes for at least ten years, you are probably eligible for premium-free coverage. If you must purchase Part A coverage, you must also have Part B Medicare and pay premiums on both parts.

Medicare Part B covers the costs of medically necessary services. These services include doctor visits, outpatient care, and some preventative services. Part B is not mandatory if you have premium-free Part A insurance. Generally, people who don’t pay premiums on Part A have a private insurance company to cover medical services.

The Medicare Advantage Plan, also called Part C, is also provided by a private company but must be approved to provide Medicare. Through this type, you are provided with access to both medical and hospital coverage, but you have to pay premiums with the company and for the medical coverage. Although these forms of insurance are available, whether directly through Medicare or through an approved company, you are not provided with prescription coverage. This is where Part D fits in.

Part D is the prescription coverage provided by Medicare. In order to have this coverage, you need to have the hospital or the medical coverage or both. If you have purchased your coverage through a private company under an advantage plan, you are only eligible for the prescription coverage if you have both the medical and hospital insurances.

Do you already have a prescription plan through a job or a union? These creditable plans must adhere to the same standards as Medicare. When you’re trying to figure out if you need Part D coverage, you must consider your current plan.

If you don’t have current coverage or you’ve determined that you want Part D coverage, your next step is to compare the prescription lists with the medications you are already taking. It is important to ensure that you are getting a prescription plan that covers your existing medications. You also need to compare the co-pay amounts for brand name and generic prescriptions under the Medicare drug plans that are offered.

Medicare prescription coverage will help you save cash on those prescriptions that you require to get. Medicare drug coverage is something you require to have.