If you were happy with your prescription drug coverage during the year 2020, it is still a best practice to visit the Medicare.gov website to review the plans that are offered. Take the opportunity to review your coverage last year and choose the best plan to lower your overall cost of medications.
Medicare Part D open enrollment begins October 15, 2020 and will run through December 7, 2020.
By this time, you should have received your copy of “MEDICARE & YOU” handbook. In addition to this updated resource, there are additional resources in your community to assist with this process.
Things to consider when reviewing the plans that are offered:
- If you acknowledged gaps in your Medicare coverage, or paid out of pocket for prescriptions more than normal
- If you are taking different medications, a new plan may save you money
- If you have a Medicare Advantage plan, you can switch to Original Medicare
- If you currently have Medicare Part D, or a Medicare Advantage plan, you should receive an ANOC (Annual notice of change) from your plan. These notices should reflect any changes in your plan’s benefits, cost’s, or rules for 2021.
- Even if you are happy with your current plan, it could prove to be beneficial to review different Medicare Part D plans that have changed for the upcoming year.
Additional helpful information when you visit your pharmacy:
- Request a 90-day supply; three refills in one trip
- Request generic medications; lower priced medications might be available
- Make sure that the bottles are easy to open and you are confident in the administration of the medication
- Make sure that the information for each prescription is easy to read
- Mark your calendar for October of 2021 to remind you of open enrollment for next year!
As always, The Option Group looks forward to working with you and your loved ones and welcome your calls and questions as we navigate together.