How does Medicare Part D work? Almost no one understands it. The few that do know can’t explain it. 800-MEDICARE can’t help, neither can your friends. Most agents have no clue and neither do volunteer counselors.
GA Medicare plan expert Bob Vineyard looks at the most confusing part of Medicare.
Who Can Explain Medicare Part D?
The folks in Congress who designed the PDP program don’t understand it and they will never use the plan. Most carrier service reps who answer the phone MIGHT be able to explain their plan but they won’t have a clue about their competitors.
Why is Part D so difficult?
Consider this . . .
The program was designed by folks in Congress who know nothing about health insurance and they turned it over to insurance carriers to manage. What could possibly go wrong?
If you believe they know what they are doing just witness how they messed up Obamacare. And don’t overlook the misnomer for the law . . . the AFFORDABLE Care Act.
WHO thinks Obamacare is AFFORDABLE? How many got to keep their plan no matter how much they liked it? Which of you were able to keep their doctor?
So why do you think they got Medicare Part D right?
Almost no one Understands Part D.
Medicare prescription drug insurance plans have moving parts. Some have a deductible, others do not. All have copay’s. Some copay’s are a flat dollar amount, others are a percent of the retail price. All plans have the donut hole. All plans have preferred pharmacy’s and drug formulary’s.
Some drug plans have a mail order option, others do not. Some mail order refills will save you money, others will not and some will even cost you MORE than filling at a pharmacy. The preferred pharmacy you use this year may not be favored next year.
Am I Required to Use my Drug Plan?
Will you pay less for your medications if you pay cash or use a discount like GoodRx vs running everything through your drug plan? Are you better off running ALL your drugs through the Medicare Drug Plan Finder or only checking prices on some of your med’s? Why will I pay a higher copay by using my drug plan vs a discount card?
Why should I buy a drug insurance plan if I don’t need it? What is the penalty for not having a drug plan? Is it the same every month? How long will I have to pay the penalty? Can I pay the penalty from my HSA?
Can I save money by ordering from Canada? Why is it less expensive to pay cash, use a discount card or order from Canada?
Can I enroll in Medicare Part D at any time? Can I switch drug plans whenever I want? Do I need to review my prescription plan every year or can I just let it renew?
Who Will Help me Find a Medicare Drug Plan?
Why do some agents help with Medicare Part D and others don’t? How much are agents paid to help with Part D? Are agents required to show me ALL the drug plans in my area? Why do agents only sell one or two plans? How many drug plans are offered in Georgia?
What is wrong with picking the plan with the lowest premium? Aren’t all drug plans the same? Why do I have to buy my drug plan from an insurance carrier? Many of the policies are from carriers I have never heard of. Why shouldn’t I just buy from the same company that sold me the Medicare supplement plan? Don’t I get a discount for buying Medicare Part D and Medigap from the same carrier? Is there a reason why I shouldn’t enroll in the same drug plan as my spouse?
My best friend says her plan is the best. What is wrong with buying the same plan she has? Can I use my PDP with any drug store? Can I continue to fill my prescriptions at the same pharmacy I have always used?
Where Can I Get Help With Medigap Coverage?
Shameless plug follows . . .
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Bob Vineyard has over 40 years experience in the health insurance field. All your questions will be answered. People love to buy but they hate to be sold.
All I ask is for you to give me 10 minutes by phone. Time to answer YOUR questions. You will NEVER be pressured to buy anything. This is your opportunity to ask ANY Medicare related question, then decide if you want to work with me or not. It’s that simple.
I call it “An offer you can’t refuse”
Why is Medicare Part D So 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 drug plans that have a deductible.