SENIOR FOCUS: Open Period to Save on Medicare Part D Drug Costs | Senior Focus | Max Greenberg | Palo Alto Online |

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About this blog: I developed a special interest in helping seniors with their challenges and transitions when my dad had a stroke and I helped him through all the various stages of downsizing, packing, moving and finding an assisted living communi...  (More)

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SENIOR FOCUS: Open Period to Save on Medicare Part D Drug Costs

Uploaded: Nov 9, 2015
During the open enrollment period Oct 15 - Dec 7, 2015, seniors (that's some of us, your parents, your neighbors, your extended family) can shop and compare and switch to another plan which can save you a lot of money especially if you take "expensive" medications. As a testament to how difficult it appears to most folks to shop, compare and switch, only about 14% of seniors will go to the effort of making a change. Under Medicare rules, Rx drug plans can change the premiums, co-pays and deductibles they charge you every year. All they have to do is send you their Annual Notice of Change every September. Many count on folks not bothering to read it or realize how it will affect them. But there are free tools available to make the comparisons based on the type of medication you take, frequency, and dosage. The Medicare Plan Finder on the Medicare.gov website https://www.medicare.gov/find-a-plan/questions/home.aspx is an easy to use tool where you enter the medication name, frequency and dosage and you’ll find out what the various Part D plans will charge you for your specific medication. Since the cost of the same exact drug, dosage and frequency can vary by over $500, it obviously can be well worth the effort to research and switch.
Read the great article in the AARP Bulletin written by Patricia Barry at http://pubs.aarp.org/aarpbulletin/201511_DC?folio=4&pg=4#pg4 that provides other tools for comparing your Rx drug costs, including calling Medicare to do the same search and comparison for you (I can’t guarantee how long you might be on hold though.)
Please share your experiences switching your Part D Medicare drug plans if you've done so in the past. How easy or hard did it turn out to be? How much money did you save?
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Comments

 +   3 people like this
Posted by 65 year old, a resident of another community,
on Nov 9, 2015 at 5:32 pm

Dear Max,
Thanks so much for this reminder and all this timely information. You are right, most seniors will not bother or even understand that the costs needs to be analyzed and reviewed every year. You have done a great service to myself and other readers! Keep up the good info!


 +  Like this comment
Posted by eliejulz1@gmail.com, a resident of Barron Park,
on Dec 7, 2015 at 9:47 pm

My business partners were needing IRS 1099-PATR this month and were made aware of a great service that has a huge forms library . If others are looking for IRS 1099-PATR too , here's Web Link.


Sorry, but further commenting on this topic has been closed.

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