Part D How to Compare Plans and Enroll

We are recommending that our clients do one or both of the following during the Annual Election Period 10/15 – 12/7 for new coverage to begin January 1^st.  However, you can start to do the research as early as 10/1 online or by calling Medicare.

• 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.  Remember they can’t enroll you until 10/15 and it has to be done by 12/7.

• 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.  You can do the research as early as 10/1.  So, if you like what you see, after 10/15, 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 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 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. 

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 year. 

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).

We will still continue to help you and our clients 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!