Why You Should Change Your Medicare Drug Plan for 2014

Part D enrollment begins today and there are loads of drug plan changes you should be aware of. Our website MedicareDrugPlans.com can help you navigate them.

A new analysis from eHealth Inc. has found that 78% of Medicare beneficiaries did not compare prices on prescription drugs when shopping for Medicare Drug Plans during open enrollment for 2013. This is bad news for consumers, as not all Medicare Drug Plans are created equal! The average Medicare beneficiary could have saved $600 in 2013 by shopping smartly.

Not only do different drug plans set different deductibles and premiums, but they also cover different drugs. You need to find the plan with the lowest cost dependent on your needs.  A low deductible and premium doesn’t mean anything if it doesn’t cover the drugs that you take. Odds are, according to eHealth, that you can save money by switching plans.

If you are happy with your current plan, you should still compare plans, as your plan may not be, well, current. Deductibles and premiums change. Your plan’s donut hole (coverage gap), preferred pharmacy, or formulary can change. It’s also possible that your plan will be merged with another plan or won’t even exist in 2014, in which case you may be transferred to another plan. The possibilities for change are endless!

Head over to MedicareDrugPlans.com to view 2014 plans, and find the plan that is best for you. Then head over to the government’s site, Medicare.gov, which is the best place to actually enroll in your plan.

Share

Part D Open Enrollment Ends Today

Today is the last day for the Medicare Part D open enrollment period. For most Medicare enrollees, those who do not have a plan by midnight tonight will face a penalty charge, which will be added to future Part D monthly premium payments.

The Medicare drug plans have certainly frustrated many seniors, who’s experiences can be found in the ratings and reviews on www.MedicareDrugPlans.com. Some of the most frequent problems with plans communicated by seniors are drugs being dropped by plan formularies mid-year; information on drug coverage was not initially made clear; co-pays were higher than expected; and customer service was often inadequate.

On the other hand, some seniors were completely satisfied with their plans. The bottom line is that you need to pick a plan now or you will pay more later.

Sharing her optimism for Medicare Part D benefits, and the discounts provided under the Affordable Healthcare Act, Secretary of Health and Human Services Kathleen Sebelius commented on Medicare.gov’s official blog: “Through the end of October, 2.65 million people with Medicare have received discounts on brand name drugs in the donut hole. These discounts have saved seniors and people with disabilities a total of $1.5 billion on prescriptions – averaging about $569 per person.”

If you’ve yet to choose your plan, you can easily compare reviews on MedicareDrugPlans.com before making the final decision. If you want to share your experiences with others then please rate your plan.

Share

Medicare Part D Drug Plans – Find the Best Plan For You

If you are eligible for Medicare Part D (Drug Plans), you should be aware that 1) open enrollment starts tomorrow, October 15th and 2) you can now research Medicare Part D plans on our site MedicareDrugPlans.com. On the site you find out which plans are rated best (or worst) by people enrolled in them. You’ll also get the 2011 pricing information for every plan in each U.S. state and territory. The information is completely objective – we are not affiliated with any plan.

If you are already enrolled in a Part D plan, MedicareDrugPlans.com allows you to rate and review your current plan, so others can learn from you.

To actually sign up for a plan, we recommend using the government’s website, Medicare.gov – at which you can best determine which plan covers all the prescription drugs you take. Comparing costs and features can be crucial to your health and your finances. Annual deductible, monthly premium and drug coverage (especially in the “doughnut hole”) are important to consider when choosing or changing your prescription plan.

This year the average premium nationally is $55, actual $1 lower than last year! The standard deductible, on the other hand, increased from $310 to $320. Less than ten plans offer coverage through the doughnut hole. However, under the new health care law, brand name drugs are now 50% off through this coverage gap period.

As open enrollment begins, Medicare enrollees interested in a drug plan are urged to research carefully. Whatever plan you choose will go into effect starting January 1st, 2011 and last for one full year – so get it right! Go to www.MedicareDrugPlans.com now.

Share

An article published last week in Reuters suggests that Medicare Part D drug plans may be dropping premium prices – an effect of the healthcare reform law which could greatly benefit seniors if they shop around. Reevaluating your Medicare drug plan yearly during the open enrollment period is always a good idea, but this year plan selection could make a big difference.

Although we reported in August that plan premiums will not raise in 2012, Avalere Health, a health policy consulting firm, finds that while 10 of the top Part D plans will lower prices, six plans will raise premiums. However, the good news is that in the larger picture Avalere “projects that average premiums for both prescription drug and Advantage plans will fall 4 percent for 2012.” Because of the 2010 heath reform law, Dan Mendelson, Avalere Health’s CEO, is calling this a “year of change.” He tells Reuters, “It’s a year where patients really need to shop.”

MedicareDrugPlans.com provides ratings and reviews – along with basic plan information such as deductibles and premiums– for consumers to access during their research period. Ratings and comments help Medicare enrollees understand the pros and cons of a plan, and user comments and forum posts give details on what other Americans experienced with their plans.

Open enrollment will be from October 15th – December 7th this year, a change from previous years meant to give Medicare enough time to process all changes and new enrollees, and for consumers to manage their health needs before the busy holiday season.

Share

More Chain Stores Pick Up $2 Generic Medicare Drug Plan Option

Earlier this month we reported on the UnitedHealthcare Pharmacy Saver plan for Medicare Part D. This plan offers enrollees many of their generic prescriptions for just $2 (some 30- and some 90-day supplies) at Kroger and Safeway chain stores. Our research found that although a few popular generics were not covered by the plan, there was a fairly low co-pay anyway, so cost-wise, UnitedHealthcare has presented a solid Medicare drug plan.

One of our concerns was that those individuals who do not live near a Kroger or Safeway chain will not have easy access to their prescriptions. Well, we have good news to pass on – last week, DrugStoreNews.com announced that Bloom, H-E-B, Hy-Vee, Food Lion, Harveys, Publix Super Markets, Sweetbay Supermarket and Target chains have all joined as participating pharmacies.

This expansion is great, though we still encourage you to compare this plan with others on MedicareDrugPlans.com. It’s important to fit all plan variables to your needs. And remember, just ten more days until open enrollment closes!

Share

Pharmacies May Not Be the Right Place to Help Find Medicare Drug Plans

Many seniors enrolling in a Medicare drug plan these last 15 days of the open enrollment period may turn to their local pharmacy, presumably a trusted source of medical support and information, for answers and advice. Often pharmacists know a patient’s medical and medicinal history so can give professional and educated advice on which plan could best serve the enrollee; however, this isn’t always the case.

An article in American Public Media suggests that the answers and advice some pharmacy’s give could be guided by the influence of insurance companies. Some drugstores have made deals with and will be rewarded by the drug plan company for steering enrollees toward purchasing their specific plan, whether or not the plan is best for the individual. This is not to say that all pharmacies and pharmacists have a conflict of interest when it comes to Medicare drug plans, but we’re confident that research is the best way you can find your best plan. Ask your doctors and loved ones, check out Medicare.gov and MedicareDrugPlans.com – but do so by December 31st!

Share

2011 Medicare Open Enrollment Starts Today… Now What?

Open Enrollment is the period between November 15th and December 31st each year when Medicare enrollees can sign up for Part D prescription drug coverage, or if they are already enrolled, cancel their current plan, or switch to a different plan. Open enrollment is the time to research, rate and compare the plan options so that you pick the plan that’s best for you. A month and a half means you don’t have to and should not rush to a decision…

The enrollment period can be confusing enough for Medicare members, and this year’s changes that come with the health reform may make sign-up decisions even more complicated. We therefore recommend MedicareDrugPlans.com as a very helpful site that gives you access to honest plan reviews from your peers.

On MedicareDrugPlans.com you can sort plan options by name, company, location, overall rating or individual rating (i.e.: information received from plan, customer service, choice of drugs, cost of plan, and ease of use). There are plan profiles for all plan options offered in 2011 and  forums about the drug plans,  and related Medicare issues, on which you can ask questions or add your input. This means you can find important information about the plans and what others have experienced using them. You may discover which plans covered all of a member’s drugs without problems or which have great or not-so-great customer service – all from a community of consumers just like you.

Share
Get Adobe Flash playerPlugin by wpburn.com wordpress themes