Question about Medicare Part D Drug Plans
4 years ago
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Medicare Part D Questions
Comments (12)I'm finding that Part D plans don't change the base problem: The uncontrolled cost of prescription drugs. A low-premium Part D plan sounds good when it offers you an initial copay that is a small percentage of the retail cost of your medicatiion. But inflated retail on drugs means more people reach the 'donut hole' sooner. (That's $2930 total retail cost for 2012.) Then the individual will pay at least 50% of that inflated retail. Few will go beyond the 'hole' to the 'Catastrophic Stage', where they pay only 5%. (That kicks in only after a person has OUT OF POCKET costs of $4700.) Dadoes, I'm glad your grandmother doesn't need any expensive meds. Part D premiums plus our prescription drugs cost my DH and me over $4000/year. When I add the cost of Medicare Part B and a supplementary medical policy, the total is more than I budget for groceries. I've been taking Advair for about ten years. Their lawyers have a stranglehold on the product; I doubt I will live to see this go generic. In January of this year Walgreens quoted Advair retail at $516.79 for a 90-day supply, a big jump from the prior year. In March Walgreens quoted the same 90-day supply at $823.59 retail. This month it went to $849.19. Zap! I'm in the donut hole on this medication alone! I'm investigating Part D plans from two different companies. THEY are quoting retail of $684 for a 90-day supply of Advair in 2012. It's hard to believe they are right when Walgreens has been much higher for *this* year. IF the retail price quoted by a plan is accurate, I pay $110 copay for four 90-day supplies of Advair and I DON'T go into the 'donut hole' in 2012. (My drug's total retail won't top $2930.) However, if the retail is actually higher, I DO go into the 'donut hole', and I'd be paying 50% of retail (plus dispensing fees) before the end of 2012. In the second plan I looked at there is no flat dollar-amount co-pay; it's a percentage of the *whatever* retail from the start of the year, going to the same 50% of retail in the 'hole'. The unforseeable retail sways me towards the plan with a dollar amount copay. I can count on that exact amount for at least most of the year. If I avoid the 'hole', I'd be paying $440 for my Advair + $410 for the plan premium. Wow, 'only' $850 for one medication for one year. DH has TWO expensive meds. He goes into the 'hole' at the end of May -- or sooner if Walgreens is right on retail and the plan prediction is short. The least he will pay for these two meds and premium is over $3000....See MoreCan't Find Medicare 2017 Part D Plans
Comments (8)I'm sorry I looked. Either I'm not figuring right or there are bugs. I entered our zip; chose CVS and Walgreens; entered DH's two daily meds. The plan sorter rates plans by total annual cost. The premium for the top pick is $22.50/mo. ($270/annual) with a $400 deductible. That's $670 annual cost to have the plan, right? But the plan sorter says Annual Cost to DH (premium, deductible and meds) is $586....See MoreMedicare Part D: Which drug plan are you happy with?
Comments (13)We have access to licensed health insurance advisers (brokers) through my DH's former employer. After I ran the numbers on the Medicare Part D site, I called these people to verify my understanding of the two different plans I had selected for us. They could tell me nothing about the one I selected for myself because...it's not one that they 'broker'. So -- I wouldn't rely on just what one broker offers. Mutual of Omaha is new in our area in 2020. I enrolled in their Value Part D plan because it was among the cheapest when combining the cost of the premium and the cost of my meds. (Advair is my big expense at $450 retail per month.) I'm OK with their preferred pharmacy being CVS. I'll pay $22.80/month premium, and a total of $1232/month average out of pocket including known meds. (My 2019 Part D plan with United was completely overpriced for 2020 when I ran the numbers on the Medicare guide.) My 2020 Part D card arrived in the mail within two weeks of our October enrollment sign-ups; impressive. DH has so few meds that he rarely exceeds the deductible, so a low premium is a goal for him. (Nearly all Part D plans in our area have a $435 deductible in 2020.) He'll have WellCare Select Part D for 2020. Premium is $15.50/month; total with meds averages $249/month. (He also has to pay an $8 penalty in addition to this, dating from when he did not take a Part D plan the first year it was required.) We're OK with this CVS plan. His Part D card has yet to arrive -- despite two letters confirming enrollment; not impressive. We choose to have premiums paid by deduction from our Soc. Sec. benefits. No coupons. No direct withdrawal from bank account....See MoreMedicare Open Enrollment, Part D
Comments (26)I guess I'm dreading the medicare thing more than the social security thing. I'm just more annoyed that they need to have so much information that they already have, to sign up for social security. I'm taking social security at 62. Too many friends have gotten cancer too young, in their 50s. The last one waited until she was 70 to retire. She worked two jobs for years to save up over $600,000 and waited to draw her social security. She found out she had stage IV lung cancer right after she retired last year. She's gone now. So all that money she worked so hard for and scrimped and saved was for nothing. She was so angry at the end and I don't blame her. She was supposed to go on the trip I took out West but wasn't able to go. She was mad at me for not going sooner. I realize now that her situation was a big reason I decided to retire when I did....See More- 4 years ago
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