Medicare Part D Plans - Be Sure To Shop Around During Open Enrollment Period (coverage, prescriptions)
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This caught me by surprise - so I thought I would pass it on.
I have a UHC preferred Part D plan (its "middle plan"). I take 2 Tier 3 drugs. One is being moved to Tier 4 next year (a big co-pay jump). So I shopped around on Medicare.gov and found that my best option with my drugs is actually the cheapest UHC plan - the "saver plan". Changing plans will save me $700/year next year.
Why? Because - even with a deductible (my current plan has none) - the premiums are less - and the co-pays for Tier 3 and Tier 4 drugs are MUCH lower in the cheapest plan than they are in the "middle plan" and the highest price plan (co-pays for Tier 1 and 2 drugs are much smaller - and relatively similar).
Seems totally counter-intuitive to me - so I thought I'd pass it on.
BTW - IMO - the Medicare.gov website is excellent for comparing Part D plans.
Anyway - open enrollment starts in a couple of days - so it's something some of you might want to explore. Robyn
P.S. My husband and I also noted that the UHC formulary coverage for MS drugs is the same in all of its plans. So - if he ever has to take an MS drug - he'd probably save something too - because of the lower co-pays in the "saver plan".
I switched Dad to the cheapest plan last year. Went from a Medco plan to UHC - cheapest. Went from $65/month in premiums to $15. Copays for medicine went from over $200 a month (dad's on one high priced brand-name drug with no generic equivalent) to $45 a month.. because for whatever reason the cheapest UHC plan covers that particular drug with a $25 copay once your deductible is met.
Deductible was something like $250, which we made in February. I haven't totaled up the entire savings, but its been pretty substantial.
I was really suprised and checked the formularies several times.
when does that type of info go out this year? Need to make sure that dad's rxs are all still covered on the plan, and if not - figure out what we're switching to.
The info is pretty much out there now on medicare.gov. It's not totally out there on the UHC website yet (pharmacy info isn't complete). But you have a couple of months to get things in order - no need to worry. And the UHC agent we spoke with today said don't try to do anything during the first few weeks of open enrollment - because it's a zoo. He said wait until about the end of October.
Everything - premiums - co-pays - etc. are going up in 2014. So it makes sense to check everything again. Robyn
P.S. What's the expensive drug your father takes? Mine is Premarin (female hormones). Doubt he's taking that!
Good reminder Robyn. Easy to forget about until you get your prescriptions filled in the new year, and find out things are not at all the same. These plans keep changing their formulary drug coverage and drug costs each year. I think with the idea that you will forget to check until it is too late.
That same site is also excellent in comparing the detailed ratings of Advantage plans.
I was very surprised that this system was not used as the model for ACA. Especially since it is currently in use and has been extensively checked out. It is very good as well as comprehensive.
The info is pretty much out there now on medicare.gov. It's not totally out there on the UHC website yet (pharmacy info isn't complete). But you have a couple of months to get things in order - no need to worry. And the UHC agent we spoke with today said don't try to do anything during the first few weeks of open enrollment - because it's a zoo. He said wait until about the end of October.
Everything - premiums - co-pays - etc. are going up in 2014. So it makes sense to check everything again. Robyn
P.S. What's the expensive drug your father takes? Mine is Premarin (female hormones). Doubt he's taking that!
Oral anti-diabetic (glpp I believe) -- Tradjenta. Just came on the market in '11, so patent protected for quite some time yet. It works well for him, so we'd keep it even if it weren't as covered (we paid $200 ish / month last year) - but getting it so cost effectively is a bonus and allows us to use more of dad's income towards his aide.
Thanks for the knowledge. I'm in open enrollment at work (next week thru about Tgiving) -- but my enrollment period is limited (1 month) and the whole medicare thing is still somewhat new to me .. I forget the enrollment period for medicare items is so much longer than private employer sponsored health care.
Oral anti-diabetic (glpp I believe) -- Tradjenta. Just came on the market in '11, so patent protected for quite some time yet. It works well for him, so we'd keep it even if it weren't as covered (we paid $200 ish / month last year) - but getting it so cost effectively is a bonus and allows us to use more of dad's income towards his aide.
Thanks for the knowledge. I'm in open enrollment at work (next week thru about Tgiving) -- but my enrollment period is limited (1 month) and the whole medicare thing is still somewhat new to me .. I forget the enrollment period for medicare items is so much longer than private employer sponsored health care.
Mid October through Early December for the Annual Election Period for Medicare. Oct 15-Dec 7th this year.
Also, don't forget to check around at various pharmacies. Their costs might be less at one pharmacy vs another, even ones close to each other.
Good reminder Robyn. Easy to forget about until you get your prescriptions filled in the new year, and find out things are not at all the same. These plans keep changing their formulary drug coverage and drug costs each year. I think with the idea that you will forget to check until it is too late.
UHC sent me a booklet outlining all the changes for the upcoming year. Which gave me a "heads up" - and prompted some digging on my part. Robyn
Mid October through Early December for the Annual Election Period for Medicare. Oct 15-Dec 7th this year.
Also, don't forget to check around at various pharmacies. Their costs might be less at one pharmacy vs another, even ones close to each other.
Good point. Also compare cash prices with co-pays. My husband takes 1 Tier 2 drug where the cash price at Costco is lower than than his Part D co-pay. Robyn
Good point. Also compare cash prices with co-pays. My husband takes 1 Tier 2 drug where the cash price at Costco is lower than than his Part D co-pay. Robyn
They would just charge the cash price in that case correct? I know it's illegal in our state to charge more than the cash price, maybe not everywhere though.
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