Medicare Part D is meant for prescription drug and tends to take care of much of the coverage costs. So many people with Part D pay twice as much as they need to or sometimes even ten times more without noticing.
Analysis have shown that in 2016 and past years, different plans of Part D charge very widely varying copayments for a supply of 30 days of same medication (same name, dosage, pharmacy and state).
Comparing and switching plans
These large variations in the copayments undermine the important of the open enrollment period running between October 15th and December 7th. If only beneficiaries could spend some time to compare the plans during open enrollment, they could save a lot.
Open enrollment presents enrollees with better opportunity to make plan comparisons and switch to a better plan with better deals. However, only 14% of the enrollees switch to another plan during the open enrollment period.
The drug plans of Part D can change any of the costs, including premiums, copayments and deductibles as this is permitted by law. Beneficiaries cannot be aware of the price differences if they cannot do plan comparisons with regard to the specific drug prescriptions they use. If in need of a plan that can take care of the gap left by Original Medicare, enrollees may consider finding Medigap from providers such as Blue Shield Florida.
To successfully switch to another Medicare health insurance Florida plan, simply read your current plan’s “Annual Notice of Change” sent to you in September. The notice lists the amounts that will be charged next year of the premiums, deductibles and copayments. Use this to make comparisons with other plans within your area.
To get the best deal that matches your needs, select a plan with regard to specific drugs required. What counts is the copayments for your set of drugs. If you don’t need any drugs at the moment, select a plan that has the lowest premium. You can compare plans for free online via Medicare’s plan finder.
Medicare Medics also offer some of the most comprehensive plans that can help you save money without compromising quality.