Questions to Ask BEFORE Changing your Part D Plan
During the AEP many seniors want to pick a plan and stick with it for years, but advocates warn that such a strategy may be costly.
Other sources say that Seniors will pay a high premium for loyalty to their Part D Plans.
Insurance companies are making substantial changes to the Medicare part D plans for 2008. Some are cutting premiums but raising deductibles. Others are cutting costs but restricting coverage of brand name drugs.
You must get a new comparison every year to make sure you have the plan that will save you the most money and cover your medications!!!!
Please make sure you ask yourself these questions before you join or change your drug plan during the AEP of November 15th thru December 31st.
1. Do I currently have a stand alone drug plan?
This means that your health coverage, your doctor and hospital coverage is not included in your Part D plan. IF YOU HAVE A PLAN THROUGH YOUR RETIREMENT, OR YOU ARE ON A MEDICARE ADVANTAGE PLAN INCLUDING DRUGS, YOU CANNOT CHANGE YOUR DRUG PLAN TO A STAND ALONE PLAN OR YOU WILL LOSE YOUR HEALTH COVERAGE.
Please be aware of this important bit of information. You can only change your drug plan if you have a stand alone drug plan or you will lose your health coverage benefits. If you want to change your health coverage we can counsel you by calling 866-752-1795 to let you know your choices. YOU CANNOT MAKE MORE THAN ONE CHOICE DURING THE AEP.
2. Are all my drugs covered on the plan?
At My Part D USA we can check to find the plan that does indeed cover each and every medication that you take.
3. What are my co-pays and premiums? Are they the lowest available to me?
One plan may cover your Lipitor for $20 and another may charge $40. You must get a comparison to find out which plan meets your needs at the lowest prices.
4. Do I want to use mail order?
Some plans have a mail order option you can use to have your drugs delivered right to your door. Some of them also have significant discounts for this feature. If you want to use this service you must compare the mail order discounts on the plan you choose.
5. Does my plan have a deductible?
Some plans have a $275 a year deductible that you must spend through before your co-pays go into effect. If you do not want a deductible on your plan you can compare the prices to see which one is best for you.
6. When does the “donut hole” begin on the plan?
Surprisingly, there are some plans that reach the “donut hole” quicker than others. Last year there were plans that hit the threshold at $2,000 instead of the $2,400 amount.
Please call us at My Part D USA or go to our website during the AEP to get your comparison, www.MyPartDusa.com
