Medicare Part D (Rx) Enrollment Link & Notes
We do not sell any Part D plans. As a customer service we provide the following information that allows you to have the best Part D every year. Remember, there are penalties for not enrolling in a timely manner. (Penalty information) To appeal a late penalty once enrolled use Part D “Late Enrollment Penalty (LEP) Reconsideration Request Form”
Medicare Part D enrollment is available when initially enrolling in Medicare (anytime during 3 months before, the month of, or 3 months following enrollment) and during the annual open enrollment period – October 15th through December 7th for an effective date of January first. It’s important to review each year as plans change premiums, benefits and drug costs – what worked last year may no longer be the best for you. This is especially important for people approaching their first open enrollment after taking Medicare Part D.
Coverage delays for enrolling during the 3 months following Medicare enrollment: Sign up for Part D during the first month of Medicare enrollment, plan effective 2 months later. Sign up during the second or third month of Medicare enrollment, Part D becomes effective 3 months later.
The government has created an excellent tool to research & enrollment at www.medicare.gov. Simply enter your current prescriptions and let it determine the plan with the lowest total cost.
- ”Total cost” includes premiums, deductible, copays and coinsurance for either the balance of the year (for initial enrollees only), the upcoming year or both.
- The system will also recommend less costly prescription medicines to consider.
- Remember, the plan’s position in the result list, based on it’s costs and benefits, is more important than the carrier’s name. There is no “best company” – the best is the one that fits your particular needs.
Below are our detailed instructions to the Medicare Part D finder. Two Crucial Tips Step 1 of 4: Begin Open the website medicare.gov (Link at bottom of these instructions) Click the green box Find Health & Drug Plans (green button in the middle of the page) On the next page, enter your ZIP code in the light blue box labelled “Basic Search” then click Find Plans. Then you’ll be asked two questions. Most people answer as follows… Then click Continue to Plan Results Step 2 of 4: Enter Your Drugs Enter all the prescriptions you take (There’s an option to skip if none are taken.) Name (generic if used – if generic not found used brand and Generic option will be offered) When done, click My Drug List is Complete at the bottom. IMPORTANT – pay attention the box on the right side of the screen “Retrieve My Saved Drug List“. After you enter your first drug, a “Drug List ID” number and “password” date will appear – write them down. Use them next time you revisit the site and the medications you’ve entered today will automatically be re-added. Very helpful! Step 3 of 4: Select Your Pharmacies Click Add Pharmacy and add 2 nearby pharmacy chains – costs can vary greatly between chains. When done click Continue to Plan Results. Step 4 of 4: Refine Your Plan Results Simply check off the plans you’d like to see. Normally just Prescription Drug Plans (with Original Medicare) and then click Continue to Plan Results Your Plan Results The first plan displayed is “Your Current Plan(s)” – Original Medicare – see, column #4 “Drug Coverage, Drug Restrictions” shows no coverage. This is the reason why Part D began in 2006. To view the Part D Plans available, scroll past the Medicare listing down to “Prescription Drug Plans”. Make sure to Sort Results by by “Lowest Estimated Annual/End of the Year Retail Drug Cost” The first column is labelled Estimated Annual Drug costs – it is total for the balance of the year (premium and retail drug costs) and normally includes estimated costs for drugs not included in the plan’s formulary. (Whether all your drugs are on the formulary is indicated in column 4 “Drug Coverage”.) To verify that your excluded drug’s cost is included in the Estimated Annual Cost and for specific plan details including the phone number to apply, click on the plan’s name. This detailed plan view will, among other things, show you the cost of your drugs at your chosen pharmacies, and breakdown your month by month cost. NOTE: Generic drugs costs can be so low that they do not exceed the deductible. TIP: Don’t take any drugs? Consider the first plan with the smallest premium or one more expensive with a zero or small deductible. A few extra dollars per month may be worth saving yourself from the deductible if an unexpected drug need surfaces. We have clients with $5,000.+ per month prescriptions. Many find deals for one or more drugs through prescription buyers clubs and online sources – prices better than are available via Part D. That’s fine, just remember that those purchases don’t apply toward your Part D out-of-pocket. Try using Goodrx.com Once you’ve decided on a particular plan, you may enroll by phone or online. To enroll by phone, click on the plan’s name – this will load a detail page that lists the carrier’s numbers. To enroll online, simply click the “Enroll” button on the right to begin the enrollment process. Applying for new coverage will terminate your old plan automatically and if your payments are deducted from your social security check (which we highly recommend), nothing more needs to be done. If using auto bank draft, one will have to be stop and another one started.