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19. Do I really need Part D coverage?

Most individuals who enroll in Part D will see significant savings as a result. However, savings will vary for each individual, depending on which medications they take. If you currently have drug coverage under another plan, such as coverage provided by your employer, you should carefully consider how long you will be eligible for that coverage, whether or not CMS considers the coverage “creditable,” the future cost of any Part D enrollment penalties if you lose creditable coverage and the costs involved with each plan.

The complexity of comparing numerous private plans with different drug coverage and costs certainly makes the decision process much more difficult than if the government had provided a single benefit plan through Original Medicare. At this time, however, the design of the program is not likely to change dramatically, so seniors will need to decide for themselves whether or not the cost is worth it for them.



   

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