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Medicare Part D: Yes or No, and why or why not?

  1. #31
    Join Date
    Jun 2018
    Location
    WV
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    30

    I did not have prescription coverage at one point about 2 yrs. ago (was about 63 then) instead of opting for part d, I have the Magellan r x plan..I am on 9 different medications and it it very affordable, even when I get refills..cos`ts about the same thing you found...good luck dude

  2. #32
    Join Date
    Sep 2014
    Location
    Albuquerque, New Mexico USA
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    8,942
    Being without rx coverage at all is just a risk that is not worth taking.

  3. #33
    Join Date
    Apr 2014
    Location
    Arizona
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    Quote Originally Posted by Butterfly View Post
    Being without rx coverage at all is just a risk that is not worth taking.
    Absolutely!

  4. #34
    Join Date
    Apr 2014
    Location
    Ohio, USA
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    5,334
    In recent month Pres Trump was complaining about how those European and others could get the same medicines for a few dollars where in the US pays big bucks. I would think that the cost should be close to the same no matter where. In order to design and develop new drugs or methods is likely to cost millions of dollars and and take years to do. That cost must be share by all who choose these new products.

    So how do some countries happen to have fractions of cost for the buyer.

    I hope Trump finds out and announces his findings soon.

  5. #35
    Join Date
    Nov 2014
    Location
    central Missouri
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    4,756
    Quote Originally Posted by BobF View Post
    So how do some countries happen to have fractions of cost for the buyer..
    For openers...consider this. The Only two nations which allow the broadcasting of all these endless "Ask your Doctor" TV commercials are the U.S. and New Zealand. The drug companies spend billions of dollars every year on this propaganda, and guess who winds up paying for it??? Those who are trapped into having to take these chemicals are paying for all these ads. The people in the rest of the nations don't have to "subsidize" this nonsense. However, getting our government to do likewise may be wishful thinking, give the huge amounts of money these drug companies donate to the politicians...which, again, comes out of the pockets of those taking the drugs.
    "Do Not regret growing older...it is a Privilege denied to many."

  6. #36
    I cancelled Medicare Part D because it was a waste of money for me. I use Goodrx for all my prescriptions and I save a ton of money.

  7. #37
    Join Date
    Apr 2014
    Location
    Arizona
    Posts
    259
    Quote Originally Posted by Researchqueen View Post
    I cancelled Medicare Part D because it was a waste of money for me. I use Goodrx for all my prescriptions and I save a ton of money.
    Have you read the consequences of re-enrolling if you would be struck with an unforeseen illness or, Heaven forbid, cancer?? You would not be allowed to re-enroll until the enrollment period is in effect...plus you would be charged a penalty for every month you did not have coverage.

    I understand the reason you've opted out, but consider having a plan that Part D doesn't cost a monthly fee. We have Humana HMO and don't have a monthly charge. I don't mind paying $10 IF I need to see my doctor or $50 for a specialist. I take a BP pill that costs me $9 every 3 months.

    We were advised (unwisely) several years ago to not take Part D because we didn't have any meds to speak of. Then my husband had a disastrous fall that shattered his ankle. He had to have blood thinner shots in his stomach for weeks so he wouldn't get blood clots. Each shot cost $400. If it wouldn't have been for the hospital working with a special program that assisted seniors like us, we'd still be paying for those shots. He had tons of antibiotic and all that came out of our pocket. There was a lot more, but you get the idea. We have had Part D ever since. My husband is too accident prone to not have it. We also get charged a penalty for all that time we didn't have it.

    It's just not worth the risk.

  8. #38
    Join Date
    Oct 2016
    Location
    Henderson, NV
    Posts
    114
    There is a small financial risk to buying insurance. There is a large risk for not having it when you need it.

    Rick

  9. #39
    Join Date
    Oct 2016
    Location
    Henderson, NV
    Posts
    114
    Quote Originally Posted by Researchqueen View Post
    I cancelled Medicare Part D because it was a waste of money for me. I use Goodrx for all my prescriptions and I save a ton of money.
    Maybe you've saved money. Most of my clients have plans for around $20/mo and tier 1 generics are generally zero copay.

    Rarely will they be "upside down" vs going without insurance.

    While this is always a personal choice the risk is not worth the few dollars of savings.

    Rick

  10. #40
    Join Date
    Jun 2014
    Location
    upstate NY
    Posts
    2,952
    I don't Need Part D. I am covered by my Medigap carrier which is a carryover from my job when I retired. I don't even have to pay for it.
    When you do things right, people won't be sure you've done anything at all.

  11. #41
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    Jul 2016
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    bayside ,queens , ny
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    Quote Originally Posted by debodun View Post
    I don't Need Part D. I am covered by my Medigap carrier which is a carryover from my job when I retired. I don't even have to pay for it.
    double check on that . medigap typically does not cover part d , advantage plans do but not medigap plans

  12. #42
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    Jun 2014
    Location
    upstate NY
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    Quote Originally Posted by mathjak107 View Post
    double check on that . medigap typically does not cover part d , advantage plans do but not medigap plans
    Well, whatever it is, I'm covered on meds. I have a co-pay, though. I wish I had dental ad vision coverage. I looked at plans for these and the premiums are more than if I just paid OOP.
    When you do things right, people won't be sure you've done anything at all.

  13. #43
    Join Date
    Oct 2016
    Location
    Henderson, NV
    Posts
    114
    Quote Originally Posted by mathjak107 View Post
    double check on that . medigap typically does not cover part d , advantage plans do but not medigap plans
    An employer "medigap" plan most likely is a PPO which will include Rx. And since there is a copay I'd be willing to bet this is exactly the plan.

    When I talk with people about insurance I get a lot of "I have a secondary" when they really have an advantage plan (typically HMO) or "I have a PPO" when they actually have a Medicare supplement.

    Rick

  14. #44
    Join Date
    Apr 2018
    Location
    Upstate
    Posts
    116
    My MIL's cancer drug was about $3000 a month, thankfully she had Part D.

    It only takes one serious illness to drain a person's retirement savings.

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