Nov 16, 2012

Medicare Open Enrollment Ends December 7

"Hikes in fees (of prescription drug insurance plans) range from 11-23% unless you switch to lower-cost plans.  The market has changed again and seniors need to look around. Open enrollment allows you to compare plans and switch to another starting Jan. 1, 2013." Dan Mendelson, Avalere's CEO

Open enrollment for Medicare Part D prescription plans ends on December 7, 2012.  You can change your prescription drug plan now by going to www.medicare.gov and look under Medicare Plan Finder.  Even though I have saved both Dwane and my prescription lists in the Medicare secure site, it took me over an hour to compare both of our plans and choose new ones.  But the time was well spent.  I saved us over $3000 a year by switching both of us to different plans.  I strongly encourage you to take the time to navigate the www.medicare.gov site yourself or to call Medicare at 800-633-4227.  It can save you money, both monthly and annually.  The plan finder at medicare.gov automatically does the math for you - after you enter the prescriptions you take (or the person for whom you are completing the form takes)  - to tell you which plan saves you the most money annually. 

Other good news:  Part D doughnut hole shrinks in 2013.  You get 52.5% off brand-name drugs and 21% off generics in the gap, which is a slight increase over 2012.  More insurance plans offer copays at "preferred" pharmacies (the www.medicare.gov website will tell you if yours is a 'preferred' pharmacy).  Medicare Advantage Plans are still robust, despite the doom and gloom predicted that "Obamacare" would cause these programs to drop out.  Drugs used to treat anxiety and seizures are now covered under the Part D plans.  All very good news for us who are caregivers and need to watch money expenditure and save where we can. 

No comments:

Post a Comment