Part D enrollment begins today and there are loads of drug plan changes you should be aware of. Our website MedicareDrugPlans.com can help you navigate them.
A new analysis from eHealth Inc. has found that 78% of Medicare beneficiaries did not compare prices on prescription drugs when shopping for Medicare Drug Plans during open enrollment for 2013. This is bad news for consumers, as not all Medicare Drug Plans are created equal! The average Medicare beneficiary could have saved $600 in 2013 by shopping smartly.
Not only do different drug plans set different deductibles and premiums, but they also cover different drugs. You need to find the plan with the lowest cost dependent on your needs. A low deductible and premium doesn’t mean anything if it doesn’t cover the drugs that you take. Odds are, according to eHealth, that you can save money by switching plans.
If you are happy with your current plan, you should still compare plans, as your plan may not be, well, current. Deductibles and premiums change. Your plan’s donut hole (coverage gap), preferred pharmacy, or formulary can change. It’s also possible that your plan will be merged with another plan or won’t even exist in 2014, in which case you may be transferred to another plan. The possibilities for change are endless!
Head over to MedicareDrugPlans.com to view 2014 plans, and find the plan that is best for you. Then head over to the government’s site, Medicare.gov, which is the best place to actually enroll in your plan.