Part D - Annual Review Time
Today marks the first day that certified agents can begin helping their clients look up the most cost efficient Part D plan for 2013. There are many different plans in each state and each plan will vary by formulary, step therapy requirements, premium and several other factors. Agents are not allowed to enroll their clients in a in a prescription drug plan until October 15th - the first day of the annual election period; however, you can begin reviewing your options today.
If you need help with your drug plan MWG Senior Services and Medicare Insurance Finders can help you analyze your Part D options for the plan year 2013. Call 1-877-759-5760 or go to the Medicare Insurance Finders page about Part D to learn more about the different factors to consider and understand before choosing a Part D plan. MWG Senior Services represents the following insurance companies, which all 4 have roughly 2-3 plans per state and the coverage's plan design is different by state as well.
- AARP Plans
- Humana Plans
- Silverscript Plans
- Aetna Plans
An important thing to remember with prescription drug coverage is that you can spend a lot of money that does not need to get spent in a hurry by choosing the wrong insurance plan. An example of this is when a client called in with her drug list (16 drugs) and asked us to look them up for her and find out which plan would be most cost efficient for 2013.
After reviewing her drug lists the lowest annual out of pocket plan would cost her $4,000 for the year (Premium, Deductible, Co-Pays, Etc) but the most expensive plan would have cost her over $10,000 for the year. The premium was only a $10 -$15 difference per month, but the drugs formulary was completely different which made some drugs "non-qualified" under on of the plans.
Use a qualified senior advisors and call MWG Senior Services today.