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.
Tagged with: medicaredruglans.com, Open Enrollment
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.
Tagged with: Affordable Healthcare Act, co-pays, customer service, discounts, donut hole, formulary, Kathleen Sebelius, Medicare, Medicare Drug Plans, Medicare.gov, medicaredrugplans.com, Open Enrollment, Part D, penalty, premiums, Secretary of Health and Human Services, seniors
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.
Tagged with: deductible, doughnut hole, health care, Medicare, Medicare.gov, Open Enrollment, Part D, premium, prescription drug plans, ratings, United States