Austin Curry on Part D

Medicare Part D is a magnificent asset that protects the health of both seniors and individuals living with disabilities across this great the nation. Since enacted, this widely loved program has shown huge cost-saving benefits. It delivers much needed medications at a significantly lower cost than originally projected. While most people will not make any changes to their plans for 2015, the open enrollment period, which ends on December 7, is a time when all Medicare recipients should take the time to review their current plans, including their prescription drug coverage. Medicare Part D has a proven record of providing tremendous value at affordable rates. When comparing plans, it is a good idea to start by listing all current medications and dosages; this will help in comparing the approximately 30 plans from which the average consumer has to choose. Before focusing on the price of a new plan, one should make sure all of their current prescriptions are covered; otherwise out-of-pocket costs can become burdensome. It is also important to remember that a plan that works for one person may not necessarily be the best for another. It is the total monthly out-of-pocket costs that should be compared. The overall cost of the Medicare Part D plan consists of three expenses: the monthly premiums, deductibles, and the copays/coinsurance. The average monthly premium will be about $35 per month in 2015 and the premiums won’t change for the year, but the other costs are where Part D ...
Source: PHRMA - Category: Pharmaceuticals Authors: Source Type: news