If you have a Medigap policy with prescription drug coverage, you chose not to get Medicare prescription drug coverage when you were first eligible. You can still join a Medicare Prescription Drug Plan.
Read on to see why switching to a Medicare Prescription Drug Plan could help you save money and get better coverage.
With a Medigap policy, you pay the whole premium for your Medigap prescription drug coverage. In a Medicare Prescription Drug Plan, you may have to pay a premium, but Medicare pays a large part of it for you. In addition, companies can no longer sell Medigap policies with drug coverage, so your premium for Medigap drug coverage may increase faster.
Also, most Medigap policies have a maximum amount they will pay each year for prescription drugs. With Medicare prescription drug coverage, there is no maximum amount. The higher your drug costs, the greater the protection you get.
