What Do I Need To Know About Part D Prescription Drug Plans?
In today’s episode we have Deborah, she has written in and is asking “Tripp can you please tell me exactly what I need to know about prescription drug plans, the Part D?”.
Watch to learn the answer…
Here’s the rest of the transcription continued from YouTube:
Tripp: Great question. I even see agents miss this a lot. To get a stand-alone prescription drug plan you have to have a Medicare A and or B. So as long as you have one or the other you’re going to have A, then you can do your drug plan or if you have A and B you certainly are eligible to get your drug plan as well. So either one you are ready to get your plan.
Now you can actually enroll on a prescription drug plan sixty days out from turning age sixty five. Some people think it is six months, it is not, it is two months; so sixty days away from your birthday go ahead and get that plan in place.
Wendy: And isn’t it true for Medicare Supplement you can enroll three months prior to the month of your birthday?
Tripp: For Medicare, original Medicare. For the Supplement, if it is just a Supplement you are enrolling in, it is the month you turn sixty five and then that six-month window after.
So the Drug Plan is sixty days before you turn sixty five.
Wendy: Got it. So if somebody knew they wanted to get a Supplement, they could go ahead and enroll in their Medicare Part D prior to turning sixty five and then once they are turning sixty five, they can start…
Okay so what do you tell clients how can they get their information as far as they have to go to their list of drugs and their dosages and they’re ready to figure out what Drug Plan is correct for them, what do you recommend?
Tripp: Yes exactly. So here is the thing like I just mentioned a minute ago, because we don’t study every drug plan, it would be overwhelming, there is not enough time in the day; I tell people to call original Medicare call Medicare.
Wendy: And that is the government?
Tripp: It is the government and they can actually lead you and what you want to have is the Pharmacy of choice, which Pharmacy do you like, is it Wal-Mart is it CVS or Walgreens; have your Pharmacy of choice, your medications and your dosages just like you mentioned a second ago, make sure you know all that before you make that phone call.
That phone number by the way 1-800-633-4227. And I know you will probably post that on the bottom of the video as well.
And here is another tip which a friend of mine taught me, call late at night. They are open twenty four hours a day; as late as you can stand it call because obviously the call volume will be down so you don’t want to have to wait on the phone, I know that gets frustrating.
So call them at night tell them you’re looking for a drug plan, they will go through everything with you and then they will kind of lead you from there.
Wendy: And I think they may also, for those of you who we just love the Internet, I think they have got a plan finder, a provider finder or something
Tripp: Yes on medicare.gov you can do the Drug Plan finder, that is correct. If you want to do that, I think the phone call is simpler.
Wendy: Just your preference. So hopefully this helps you Deborah. Again, I know everything can be so confusing when it comes to Medicare so hopefully we are helping you kind of iron out everything and lay it out in the right order to know exactly when you should enroll and which parts.
Tripp: Hey, one other thing too Deborah and whoever else is watching this, when you are talking to Medicare, they rate the prescription drug companies who offer those plans in a star rating system.
And so and they can be…and the star rating system is determined by how quick they answer the phone, how they handle complaints, customer service things that you want to know.
So my recommendation is don’t go for anything less than a three star. So it can be three, four or five; now they don’t do the supplement companies that way, but they do rate Medicare Advantage plan carriers, like Humana or ARP, whoever offers those Medicare Advantage plans, they do a star system, but also your drug plans have a star system.
So stay with a three star or higher; I would be careful on a two or a one star for sure.
Wendy: It sounds like you would just be asking for trouble…
Tripp: Yes; they may not answer the phone, they may not have trained employees answering your pertinent questions.
Wendy: No one likes unnecessary headaches do we ladies?
Alright so hopefully this helps everyone. If you would like to attend our workshop, we host them a couple of times a week specifically for ladies, what women need to know about Medicare. There should be a link somewhere around here, you can click to register, we would love to have you.
And other than that, we will see you on the next video.
Tripp: Thanks Deborah.