https://mymedigapconsultant.com/change-medicare-part-d-plan/ - this video is NOT for comparing Medicare Advantage plans. This only for Medicare Part D plans.
Hey everyone. Here is a video I put together on how to "do it yourself with Part D."
It's a good resource on how to use the
www.Medicare.gov Plan Finder tool.
Remember, you can call Medicare directly also. If you do call, make sure you ask the following:
MEDICARE directly at 800-MEDICARE (800-633-4227)
- Ask to compare plans via "
estimated annual drug costs." This is a better comparison than using monthly plan premium. Estimated annual drug costs take into account premiums, any deductible, and copays that plan has for your medicines.
- Ask for your Drug List ID and password date. You can use this next year when you call. That info stores the list of medicines you are on now, so next year you don't have to enter them again.
- Ask if there are any of the following with the least expensive plan
Prior Auth - You will have to get prior authorization from your Dr to take that medicine.
Step Therapy - You might have to start with a lower cost generic version to show that it does not work as well.
Quantity Limits - Number of pills the plan allows for that particular medicine per month.
- Write the name of the plan you enroll with and get the phone number
- If you switch plans, Medicare's system will generate a confirmation number, ask for this and the phone number of your "new" company
- Call at night. Our experience is that you tend to get a more experienced person. Medicare is open 24/7.
- If results are that next year's plan is the same as what you have, there is nothing you need to do. Remember also, that some companies have multiple plans. Compare what your Part D Plan Card says with what they tell you. Example, last year (2016) Humana had 3
different Part D plans.
If you do switch plans, Medicare can do it right then for you. By switching, it will automatically cancel your existing plan on 12/31/16. Your new plan will start 1/1/17.
One question that comes up -
"But on my plan this year, I only pay $xx for that."
Plans change each year. You CANNOT compare what you are paying right now with what you will pay next year. This year's plan goes away at 12/31/16. It will be replaced with next year's plan on 1/1/17, even if it's the same company. Each year plans change premiums, deductible (Medicare changes this), copays for your medicines, preferred pharmacy networks, and formularies (list of medicines each plan covers).
You owe it to yourself to simply check.
AEP for Medicare runs from October 15th through December 7th.
OEP for Obamacare starts Nov 1st and goes through January 31st. Please do not get these two confused.
Good luck
Rusty
