HElp with Medicare Part D

KathyPet · ‎03-09-2010

Open enrollment begins Oct 15 and I am trying to decide what to do about Medicare Part D. TO be honest I find this Part of the Medicare coverage to be the most confusing. I am 68 and have been on Medicare for 3 years. I currently have Part D coverage with United Health Care for a $39.00 per month. THis is increasing to $45.00 next year. THere is a $300.00 deductible.

THe problem is that I am not now nor have I ever been on prescription medication for a ongoing condition. SO in the past 3 years I have never filled a prescription. Seems like a lot to be paying out for no benefit to me.

I signed up for the United Health care plan because that was what DH had and I did not see anyway to figure out what plan to take.

I would like to revisit this coverage and pay a lot less. Anyone got any suggestions?

Mmsfoxxie · ‎06-19-2010

@KathyPet, as I understand it...when choosing part D, you should choose according to the medications that you take daily. Since you have no such meds, you should choose a company with the lowest premium.

I take a glaucoma medication daily. In my case, Silverscript had the lowest premium connected with that medication. It's $22 a month. My co pay with that med is $39 via CVS mail order and I receive 5 months supply.

I called the department of aging before I started with Medicare and was connected with an insurance specialist who talked to me in person. I still didn't understand it all but she helped me select the least expensive supplemental and part D providers.

“You can’t wait until life isn’t hard anymore to be happy”. (By Nightbirde, singer of the song, It’s Ok)

vermint · ‎04-05-2010

I'll have to be dealing with all this in about 3 years....what I want to know is WHY it's all so confusing?!?!? This is a time of life that we should be able to relax and enjoy. This process should be made very, very simple for us. Plus, it's also the time of life when many people's brains begin to fail them! There are many, many people who just can't handle this themselves, and may not have anyone to help them.

I've decided that these are not the "golden" years, but the "rusty" years!

CelticCrafter · ‎03-09-2010

Is Part D mandatory?

cherry · ‎03-09-2010

You never know when you might need scrips. If it were me I would keep that.

kdgn · ‎03-09-2010

@CelticCrafter wrote:
Is Part D mandatory?

If you have an Advantage plan prescription coverage is included. Some people have found purchasing additional Plan D coverage helps with their out of pocket costs because not all Advantage plan coverages for drugs are the same.

If you have a Supplemental Plan, drug coverage is not included so you purchase a separate Plan D.

If you do not have Plan D coverage then any prescriptions are out of pocket expenses from what I understand. While someone may not take medications now there is no guarantee about the future and that's where one gets hit and hit hard. If you skip purchasing a Plan D and want to buy one in the future, you pay a monthly penalty for picking it up late. I'm not sure how it works but you are penalized.

KathyPet · ‎03-09-2010

NO but if you do not get it when you become eligible and then want to add it later on there is a "late enrollment " surcharge added on. If you cancel a plan and don't reenroll in another plan within 60 days you also pay this surcharge. At least that is what I can figure out.

ItsME · ‎03-10-2010

HI KathyPet,

Part D plans are confusing, and coverage, premiums. and copays change annually. Actually, coverage of drugs can be even more frequent. There are MANY plans in each state, and they all offer different combinations of coverage and prices. Charges can ever differ in the same plan based on the pharmacy you use. You really have to analyze your options every year, and make changes as necessary.

Medicare.gov is the best place to find the best plan for you. Since you don't take any meds you'll want the cheapest plan, and you can find out which one is cheapest for you on Medicare.gov. It could be completely different for your husband.

There are two reasons you should continue to purchase a plan every year. FIrst, you never know when your will change and you'll need to take medications. Depending on the medication, you'll might wish you had a plan. Second, if you don't have a plan, but want one in the future, there is a penalty. This penalty is one percent of the plan price for every month you didn't have a plan. So, let's say you don't have a plan for five years, and then sign up for one. That's 60 months. At 1% per month, you're looking at a 60% penalty. On $45.00, that is $27/month ($324/year). Then penalty never goes away.

I'm a realtor, but have an insurance license, and have decided to sell medicare products to supplement my income when I retire. Even through I can sell Part D plans, there are so many that I can't sell them all. I tell people that the best thing to do is to purchase through Medicare.gov.

Good luck.

KathyPet · ‎03-09-2010

@ItsME wrote:
HI KathyPet,

Part D plans are confusing, and coverage, premiums. and copays change annually. Actually, coverage of drugs can be even more frequent. There are MANY plans in each state, and they all offer different combinations of coverage and prices. Charges can ever differ in the same plan based on the pharmacy you use. You really have to analyze your options every year, and make changes as necessary.

Medicare.gov is the best place to find the best plan for you. Since you don't take any meds you'll want the cheapest plan, and you can find out which one is cheapest for you on Medicare.gov. It could be completely different for your husband.

There are two reasons you should continue to purchase a plan every year. FIrst, you never know when your will change and you'll need to take medications. Depending on the medication, you'll might wish you had a plan. Second, if you don't have a plan, but want one in the future, there is a penalty. This penalty is one percent of the plan price for every month you didn't have a plan. So, let's say you don't have a plan for five years, and then sign up for one. That's 60 months. At 1% per month, you're looking at a 60% penalty. On $45.00, that is $27/month ($324/year). Then penalty never goes away.

I'm a realtor, but have an insurance license, and have decided to sell medicare products to supplement my income when I retire. Even through I can sell Part D plans, there are so many that I can't sell them all. I tell people that the best thing to do is to purchase through Medicare.gov.

Good luck.

YEs but I could choose a plan now based on price and then 6 months from now have to start taking medications on a regular basis and then find out that the medication isn't even covered under the plan I selected.

athenian · ‎03-18-2012

How much over the years have you paid for house insurance or car insurance? I hope you never had to use it, but if you did, aren't you glad it was there? None of knows what tomorrow will bring. Be happy you have such good health and keep Part D.