Prescription Drug Plans are the most confusing part of Medicare. These plans can be included in Medicare Advantage Plans or purchased separately depending on which route you choose getting a plan.
Medicare drug plans are designed to reduce your out-of-pocket exposure to your prescriptions. The drug plan can be broken down into 4 stages which is why it gets confusing. Depending on the type and amount of medications you take, you could have 4 different costs for the same medication in a year.
4 Stages:
If you decide to work with me, I can help you break down each stage and help you predict your out-of-pocket exposure annually. In addition, I run you through every carrier even if I don't make a commission. However, I only provide this service if you get a Medicare Supplement with me.
Last, the Federal Government is making attempts to reduce out of pocket exposure in the next few years. Prescription drug plans can be devastating in cost if you're on a lot of Brand name medications that we often see advertised on TV.
Annual Election Period: Every 10/15 - 12/7 you may shop for a new Prescription Drug Plan. If you're happy with the plan you have, stay put. However, one medication addition or change can result in drastic cost differences. If you haven't switched plans in a long time, PLEASE reach out to me. Once you're a client with me, it's a relatively easy process to switch plans. I see people paying way too much for medications that have been on the same plan too long.
Filling out this needs assessment will allow me to send you an e-mail link. The link allows you to enter your medications and me to find the drug plan that works best for you.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
Neither the insurance company nor the agent/broker making a solicitation have any connection or affiliation with, and are not in any way sponsored by, the federal or state government, the Social Security Administration, the Centers for Medicare and Medicaid Services, or the Department of Health and Human Services.
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