My previous blog discussed Part D plans, and I would like to continue that discussion.
So how can an advantage plan with a Part D plan cost you money? Remember we are talking about the Part D part of an Advantage plan.
First, the Part D plan with the advantage plan might hold you hostage. I mean that people pay attention to the medical side of the advantage plan and the Part D plan comes along for the ride.
If I select a Medicare Supplement plan, it doesn’t come with part D. Companies try to tell you this is a disadvantage, which might be inaccurate. A stand-alone drug plan might cost you as little as $7.00 per month but allow you to select one of 25 different plans.
With a stand-alone part D plan, I could check to see if my 30 or 90-day supply of medications is covered and if I would have any co-pay. With a 30-day supply, you might have zero co-pay or anywhere from $2.00 up to hundreds of dollars. If one of my medications costs me $50 a month, I would try to find a more cost-effective plan and could likely find one.
A Supplement plan is not necessarily better having a stand-alone drug plan than an advantage plan with a free drug plan. It means you can focus on what medical coverage is best for you and then focus separately on what Part D plan works best for you.
If you are a Veteran, you might be able to have Medicare and not take a part D plan without incurring a penalty. Part D plans are complicated, but once again, if you talk to someone like an independent broker, we could check all the Part D plans and compare which program works best for you, including advantage plans.
The best part is that help is available without a cost to you. It is just a phone call away.