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Medicare Advantage Prescription Drug Plans: What’s in it for you?

Medicare Advantage Prescription Drug (MAPD) plans offer a streamlined way to manage medical costs and coverage with a single plan. To understand how these plans can benefit you, you need to know a little bit of background on Medicare.

Original Medicare

Original Medicare benefits include Medicare Part A and Medicare Part B.

  • Part A covers hospitalizations and inpatient services.
  • Part B covers doctor’s visits and outpatient medical services. 

With Original Medicare, you get a solid base of health care coverage. But it leaves out several important areas.

Medicare Advantage

Medicare Advantage plans, including Medicare Advantage Prescription Drug (MAPD), fill these gaps with coverage for additional services. These plans can include:

  • Prescription medication coverage
  • Dental, vision, and hearing coverage
  • Expanded telehealth services
  • Access to fitness programs

With this in mind, follow our tips to enjoy the benefits of MAPD plans.

How to Get the Most From an MAPD Plan

Compare Your Plan Options

MAPD plans are offered by private insurance companies. This means that plans can vary from company to company. Each plan comes with its own costs and coverage limitations, so it’s important to find out which plans are available to you and understand the differences between them.

Our advisors know how to quickly and efficiently compare plans, so we can help you streamline the selection process. Let us do the research for you.

Review Covered Medications

All MAPD plans include prescription drug coverage. However, not all plans cover the same medications. If you have medications that you routinely take, our advisors will work with you to find a plan that covers them.

Explore Your Pharmacy Options

Insurance companies form relationships with different pharmacies to provide coverage. As a result, MAPD plans specify particular pharmacies that are considered “in plan.” You may be charged a fee or higher costs if you fill your prescriptions at a pharmacy not covered by your plan.

Same as with your medications, our advisors can check that your preferred pharmacy is covered when we help you review the benefits of MAPD plans. 

Check for Over-the-Counter Benefits

Additional benefits of MAPD plans can include stipends for over-the-counter products at your local pharmacy. You can use these on over-the-counter medications, vitamins, and other medical supplies. The savings can add up. We will help you check for these benefits!

Know Your Plan’s Lifestyle Benefits

Benefits of MAPD plans can vary widely, so you’ll have to be conscious about knowing what services and discounts are offered to you if you enroll. Your plan may offer a fitness benefit, for example. This may give you a discount on your gym membership or access to an exclusive fitness program.

If your plan offers fitness benefits, our advisors can assist you in finding out how to attend workouts in-person or virtually. 

The Benefits of MAPD Plans

MAPD plans offer the convenience of having a single plan with all-in-one coverage. Compared to Original Medicare, you can get access to more covered services and choose from a wider variety of plans. That way, it’s easier to find the plan that works best for your needs. 

Medicare Advantage by the Numbers

Join a growing movement
  • According to a recent study, Medicare Advantage enrollment has increased by more than 53 percent since 2013¹.
Control your health care costs
  • The same study cited that 60 percent of seniors pay no premium for Medicare Advantage.
Improve your health and wellness
  •  Medicare Advantage beneficiaries experience 23 percent fewer hospitalizations and 33 percent fewer emergency room visits compared to those on Original Medicare.

Your Local Partner in Medicare

Our team makes it easy to find a plan that works for your needs, whether you have questions about the benefits of MAPD plans or how to enroll in Medicare for the first time. 

Are you new to Medicare? To get started, you can email or schedule a call. Our advisors will contact you directly to learn about your needs and give you advice on your next steps.

Are you already a client of RetireMed? Your client advisor team can help you with any questions when you email or call 877.222.1942


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