With so many options available, selecting the appropriate Part D (prescription plan) can be a daunting task. Which plan is best for you and how can you make sure you select a plan that will provide you the best value – lost cost.
If you are eligible for Medicare and enrolling in a Part D plan, please make note of the following recommendations:
- Check to see if your medications are covered and determine what “Tier Level” your Medications fall under. All plans have different coverage levels and a set formulary (A formulary is a list of covered medications and Tier Levels are set levels of coverage, typically represented by Copayments or fixed dollar amounts that are your responsibility).
- If you have a current Part D plan, read the current Annual Notice of Change (ANOC) and make sure your medications are covered for the new year, review the updated formulary provided by the carrier. You will not be allowed to change plans after Open Enrollment.
- Make sure you pick a Preferred Pharmacy (designated pharmacy that honor lower copayments).
- Check the Star Ratings on your plan – Star Ratings are set by independent reviews and the higher the Star Rating, the higher the quality of the provider. A Star Rating under 3 should be avoided.
- Premiums are important but what good is a low cost premium with high cost Copayments? Determine the cost of your specific medications under the plan, then factor in the premiums to compare options.
- Make sure your plan has a mail order option – This can often save you money.
- To determine which medications are covered and the cost of your prescriptions by plan, register for an online account at www.Medicare.gov.
Some mail order pharmacies can save you a lot of money if you have high drugs costs
Use these sites to save money
Some pharmacies have a discount card that may provide you additional savings – always ask your pharmacist.
You Part D plan is as important as your Supplement. Consult your pharmacist and log into your www.medicare.gov site to keep current with your options. Once you have select an option and are ready to secure coverage, contact Crystal, Dominque, Stevan or Frank at 800 362 2809. ABM Insurance & Benefit Services Inc. routinely conducts meetings regarding Medicare Plans / Advantage Plans. If you would like to attend a meeting, please call us at 281-448-3040 for Visit us by clicking HERE