Medicare Prescription Plans

About Medicare Prescription Plans

When choosing Original Medicare, individuals need to enroll in a Part D Drug Plan, as well as a Medicare Supplemental Plan. The best Drug Plan is unique to every individual based on their medications and where they prefer to purchase their medications. Drug Plans are offered by private carriers, and drug coverage should be evaluated every year during annual enrollment (10/15 – 12/7) as plans and your medication needs can change.

Considerations of Medicare Prescription Plans

Too many individuals enroll in a Drug Plan without understanding that there is a process to identify the most cost effective plan for their needs. The “best Drug Plan” is unique to every individual based on their needs, and can change each year. Therefore, whether you’re enrolling for the first time, or for following years, an assessment to identify the most cost effective coverage is critical, every year! This does not go overlooked for our clients!

How We Can Help

Senior Advisors can identify the most cost effective Drug Plan for you. We can help to ensure that you are paying as little as possible for your medications. This is a critical exercise as a new Medicare cardholder, and it’s just as critical to evaluate this every year as medication needs and Part D Drug Plans can change every year.

We proactively contact our clients every year in September to collect their current medication list, so we can identify their best coverage for the following year. We enroll our clients for this coverage during annual enrollment (10/15 – 12/7).

By proactively evaluating our clients medication needs, we have saved our clients over $14,000,000 over the last five years!

KEY TAKEAWAYS

When choosing Original Medicare along with a Medicare Supplemental Plan, a Part D Drug Card is required as insurance to help pay for your medications
The best Medicare Drug Plan is based on your specific needs (location, medications, and preferred pharmacies)
An annual assessment should be performed every year during annual enrollment (10/15 – 12/7) to ensure that you are not overpaying for your medications

ADDITIONAL RESOURCES