Which Part D plan is best for you in 2018?
Medicare Part D plans will change again in 2018. The question for Medicare Part D recipients is – Do the changes to my plan affect me? Part D 2018 was created with expert assistance from the Medicare Beneficiary Advisors Group. Our Part D plan website will assist in Part D selection and help Medicare Beneficiaries navigate the Medicare Part D Drug plans for 2018. After consulting Medicare Insurance specialist with over 25 years of Medicare and Insurance expertise from the Medicare Beneficiary Advisors Group, we have assembled several methods for individual to search and get assistance on Medicare Part D and Medicare Supplement Insurance plans. Our goal is to help Medicare Beneficiaries find the right Part D plan, and the most cost effective supplement insurance or Medicare advantage plans.
Selecting a Part D plan in 2018 will be no different than years past and there are several factors to consider. However, there are at least two mistakes that are often repeated and add $100’s of dollars of additional costs in the Part D plan alone.
The most common mistake seems obvious but people do it all the time – Part D plan selection based on Premium. If you take no Part D covered prescription medications this will work just fine. But those individuals who take just one medication in certain circumstances can waste hundreds of extra dollars. If you take 3 – 5 Medications in the wrong plan this method could cost you $1,000 or more in the wrong Medicare Part D plan. Below is an example of a hypothetical individual taking just 5 fairly common Part D drugs and several example of what that person would pay over 12 months in a few of the most highly subscribed and lowest premium Medicare Part D plans.
The example shows the cumulative annual cost of 4 of the most common and lowest premium Part D plans. What’s included in addition to the monthly premium are ALL Rx co-pays, the plan deductible, and of course the Monthly premiums combined for 12 months: (Source – Medicare.gov) We have intentionally left out the names of the plans because this is not in anyway a slight on these plans. All of these Part D plans are very well run and in many cases the part D plan at the bottom of this example could easily be at the top of another example with a different set of medications. The point here is that choosing the best Medicare Part D plan is very specific to the part d drugs used in each individual case.
| Plan | Description | Total Cost* |
|---|---|---|
| Plan 1 | Best Choice | $1,108.44 |
| Plan 2 | 2010 Best Seller | $1,255.20 |
| Plan 3 | 2010 Top 3 plan | $1,816.43 |
| Plan 4 | Lowest Premium | $2,560.09 |
Part D plans Common Mistakes to avoid in 2018
The second common mistake is not considering the pharmacy one is most likely to use to fill the Part D prescription. Cost may vary from one pharmacy chain to another and of course mail order is typically less than walking into a retail pharmacy. Many times a Medicare Part D plans co-pays, can vary by as much as $20 for a 30 day supply (more if the drug is not on a plans formulary) from one pharmacy to the next. Multiply this by 12 months and just 3 drugs with a $20 variation and your part D plan can cost $720 more in co-pays.
For 2018 there are several ways to find the best Part D plan.
- Get help from a trained Medicare Part D advisors – call us now at 800-763-1406, or Submit a request at the “Contact Us” button and an advisors will contact you within 24 hours. (We strive for 30 minutes or less during regular business hours)
- Follow this link – Here – and you will be directed to a partner site where you review Part D Plans on your own. No salesman will call unless you ask.
- Search plans on your own then submit a request for conformation, and enrollment information.
- Enroll directly online with no interference or discussion with an advisor.
Advice and assistance provided by the Medicare Beneficiary Advisors Group and/or our partners providing online information and enrollment. The Medicare Beneficiary Advisors Group is best reached by submitting a request at this link or the “Find and Compare Button”. They are available to assist you in your search and asked only that once you decide on the best plan that you complete your enrollment via their group. There is no cost to you but allows them to help others like you find the best Part D and Medicare Supplement plan available.
Contact our office to find out which plan best fits your needs. Phone: 800-763-1406
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