Today we’re going to be going through how you can search for the most cost-effective Medicare Part D plan.
What we do as an insurance broker is we actually use the Medicare.gov website to search for our clients prescription drug plans
In California, there’s actually 30 different prescription drug plans (as of 2019) so it is very difficult to choose one randomly and for that plan to end up being the most cost-effective for you.
What we do is if we can compile a list of a client’s prescriptions, the dosage, the frequency and what pharmacy they like to use, we will enter all the information into the Medicare.gov website and the site will tell us what plans are the most cost-effective.
I’ll show you hear how you can do that on your own:
- Go to www.Medicare.gov.
- Click on the “Find Health & Drug Plans” tab on the top left.
- Enter your Zip Code.
- Mark these three boxes: 1) How do you get your Medicare coverage? Original Medicare. 2) Do you get help from Medicare? I don’t get any extra help. 3) Would you like to add your drugs? Yes. Continue.
- Enter all your prescriptions in one by one by typing them in the box. As you are typing, there should be a list of prescriptions that will auto populate. Select the correct dosage and frequency of your prescriptions. When done, select “My Drug List is Complete.”
- Select your preferred pharmacy.
- If you plan on staying on Original Medicare, Select “Prescription Drug Plans (with Original Medicare)” or if you are going to choose a Medicare Advantage Plan select the box “Medicare Health Plans with drug coverage.” Continue to plan results.
- Browse through all the plan options. They will be listed in order of cost-effectiveness.
If you have any questions on how to do this, leave a comment below or give us a call at 800-464-4941.
If you are looking to switch plans and need help doing so, give us a call during the open enrollment which goes October 15th – December 7th each year. Remember, there is no cost to use the services of an insurance broker to help you with your Medicare.
Thanks for reading.
If you would like more information on Medicare, request a copy of The Nuts & Bolts of Medicare book here and we will mail it out to you!