Can Medicare Prescription Drug Plans Work With Other Health Insurance?
Yes, it is possible to be enrolled into other health insurance together with Medicare prescription drug plans. Some health plans you can also be enrolled into may include
- Medicare supplement insurance: Medicare supplement or medigap also cover drugs but it is not so laudable. Your premium might be higher than what you will normally pay under the Medicare prescription drug plan. If you join the Medicare prescription drug plan, you will need to notify your Medigap insurance company so that they can modify your premium.
- Medicaid: If you are under the Medicaid [5] program and you become eligible for Medicare, you can decide to have both. When you get Medicare, you will be referred to the Medicare prescription drug plan to cover for your medication.
- TRICARE: This plan is for people in the military. If you have a plan, you can decide not to get enrolled into the Medicare prescription drug plan because it covers drugs. If you however decide to get enrolled, Medicare prescription drug plan becomes the primary payer while TRICARE becomes the secondary payer.
- CHAMPVA: CHAMPVA stands for Civilian Health and Medical Programs of the Department of Veteran Affairs. When you are under this program, you can also get enrolled into a Medicare prescription drug plan.
- Prescription Plan Given By Your Employer: If you are covered by the prescription plan of your employer, you can decide if you still want to get enrolled under Medicare prescription drug plan. You can decide to compare the premium and out-of-pocket cost paid by both plans and decide which one is the best for you.