Part D is a prescription drug plan which is a part of health insurance plan and does not have any standard monthly premium. The individual, who has Part A, Part B, or Part C plan, is eligible for Part D. Joining in the Rhode Island Medicare Part D plans are voluntary and an additional monthly premium should be paid for the coverage. In Part D, higher monthly premium is paid by the beneficiaries who have higher income. An individual should sign up for Part D when he/she is eligible. If not, there will be a penalty for the late enrollment.
Part D may be provided by the private companies or by the insurers to the people who are entitled to the Original Medicare. The main objective of this part is to support the beneficiaries with low prescription drug expenses. This part may be added to the Medicare Parts A and B. Most of the Part C plans have the coverage of Part D, if not, prescription drug plan may be joined to the coverage of Part C.
Individuals are eligible for Part D if the resources are below $13,070. In the year 2012, the low-income aid plan was $32.04/month in Rhode Island.
Two methods in attaining the coverage
If an individual is having Medicare Part A and B, and doesn’t want to enroll in Part C can follow stand-alone prescription drug program. Some Part C plans will provide drug coverage, whereas some may not provide drug coverage, in that case an individual should follow the stand-alone prescription drug program.
For prescription drug plans, the initial registration period is 3 months before an individual is turning into 65 and after that, retains for 7 months. During the period of annual enrollment, general registration happens.