Part D How to Compare Plans and Enroll

If you are new to Medicare, recently moved to a new county, or you are exploring your options during the Annual Election Period* (10/15 – 12/7 for new coverage to begin January 1st), we recommend our clients do one or both of the following. 

• Call Medicare 1-800-633-4227 directly for help finding a new plan and enrolling over the phone. Many of our customers have found this to be the most helpful and easiest option.  They have the last 18 months of your prescription claim information and know that pharmacy you use. Therefore, they can give you good input and help you decide what is best for you.  

• If you already have a Medicare #, you can also visit Medicare.gov - Login or Create an Account – it also has the last 18 months of your prescription claim information, your pharmacy information and your current year plan to compare it to next year’s plans.  They also have your Medicare # and address loaded in their system.  If you like what you see, click the Enroll button and proceed. 

When you are doing your research, be sure your Rx are on their formulary (list of covered drugs). Also be sure that your pharmacy is in network.  If it is "Preferred" pharmacy you will get a lower copay, or possibly none at all depending on the drug. Sometimes Rx that are purchased through a "Preferred" Pharmacy (often CVS & Walgreens - depending on the plan) are not subject to the annual deductible.  If it is a "Standard" pharmacy, you will pay a higher copay and also likely be subject to the annual deductible. 

Star Ratings (1 is the lowest & 5 is the highest) are important for Part D (prescription drug) plans because they provide a simple way to compare a plan's quality, customer service, and member experience, with higher ratings indicating better performance. Consumers can use these ratings to make informed choices about their plan during open enrollment, as they help identify high-quality plans and avoid poor-performing ones. We recommend whenever possible, chose a plan that has a minimum of 3 stars or higher.  

Another very important consideration is the "Total Cost" = Monthly premium + Drug copayments/coinsurance + Deductible (if applicable).  That is the cost you will pay the entire calendar year (or remainder of the calendar year - depending on your start date). 

During the Annual Election Period (10/15 - 12/7) when you enroll in a new part D/Rx plan for January 1st, you current plan will be automatically disenrolled on 12/31 and your new coverage will begin on January 1^st.  You don’t need to call or write them to request to cancel or disenroll. It happens automatically with CMS (Medicare).

*NOTE during the Annual Election Period, the new plan year benefit and rates are available to view starting 10/1, but you must wait to enroll from 10/15 - 12/7.  This way, beginning 10/1, you can get a 2 week head start shopping the new plans online or calling Medicare 1-800-633-4227. 

We continue to help you with Medicare Supplement aka MediGap as well as Medicare Advantage (part C).

We sincerely appreciate your business. Please let us know if you have any further questions or would like to schedule a call.  Thank you for being a great customer!