Am I required to buy a Medicare drug plan? What if I don’t take drugs? Can I wait until I need a plan? GA Medicare expert Bob Vineyard explains.
Is Medicare Part D required by law? What is the best 2019 drug plan? Is there a penalty if I DON’T buy a prescription plan? Is Part D optional?
Medicare Part D
I don’t take any prescription drugs. Why must I buy something I don’t need or want?
You are not REQUIRED to buy a prescription Medicare drug plan. But if you don’t enroll in a plan when first eligible you will pay a penalty.
And the penalty is payable for life. It also increases every year.
So . . .
Where Can I Find the BEST Plan?
Finding the best Medicare drug plan isn’t easy. Part D is the most confusing part of Medicare. How do I find the RIGHT plan for me?
You could get lucky this time, but what about next year?
Is there a GUIDE to Medicare Prescription Drug Coverage? Yes, and it is only 88 pages . . .
The best drug plan is the one that is right for you. Do the following before enrolling.
- Use the Medicare Drug Plan Finder
- Enter all your current medications
- Choose a pharmacy. Look for the one with the lowest copay’s.
- Make sure all your drugs are on the formulary
- Consider buying generics with cash or a discount card
- Look for plans with a deductible
- Enroll in a plan with the lowest total out of pocket cost
You can do all this by yourself.
Or you can ask a Medicare expert to help. I am always willing to help my Medigap clients. If you are not a client, please don’t ask. It’s not personal, it’s just business.
Why is Medicare Confusing?
Seniors often buy the wrong drug plan and spend too much on their prescription plan. Seniors on Medicare spend an average of $263 per month on prescription medications.
Lower your medication bill by only using your drug card when necessary. The right drug plan will save a lot on brand names but you will almost always pay MORE for generics.
Consider paying cash or using GoodRx instead for maximum savings. Also look for a Medicare drug plan with a deductible. https://youtu.be/LaA9NnFeBXI
You have questions? I have answers. Call or email.
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