Medicare prescription drug plans (Part D) help cover the cost of medications. Because plans differ in coverage and pricing, choosing the right one for you can help you avoid higher costs and unexpected gaps in coverage.
What to Review Before Choosing a Plan
1. Your Medications
Make a list of all prescriptions you take, including dosage and how often you refill them.
2. Drug Coverage
Check that your medications are included on the plan’s formulary and note whether any are placed on higher cost tiers.
3. Total Costs
Look beyond the monthly premium. Review:
- Annual deductible.
- Copays or coinsurance.
- Expected yearly costs based on your medications.
The lowest premium isn’t always the lowest overall cost.
4. Pharmacy Network
Confirm your preferred pharmacy is in-network. Some plans offer lower costs at certain pharmacies or through mail-order options.
5. Coverage Changes
Prescription drug plans can change each year. A plan that worked well last year may not be the best option this year.
Review Annually
It’s important to review your Part D coverage during Medicare Open Enrollment (October 15 – December 7)
to ensure your medications are still covered at a reasonable cost.
Help Is Available
Our Education Specialist can help you review your medications, compare Part D plans, and understand your options at no cost to you.
Call (855) 764-2227 now to speak with an Education Specialist.