Thanks a lot for easy to use video regarding Medicare plan D . I follow your instructions and found out cheapest drug coverage for 9,98 a months. Then I called Using same site to Medicare to confirm the cheapest drug plan and my options. Representative pushing me to enroll to cheapest plan for $28,98. That offer was rejected by me , just wasted time and I have enrolled for plan $9,98 by myself.
Just FYI: the metoprolol you had in your example should be a once-daily formulation (succinate is an extended-release formulation). Even the short-acting (metoprolol tartrate) is typically only twice daily.
So, a lot of drugs are free or you can use goodrx, or even coupons from the drug company. At times the prices are dramatically lower. This calculator won't use these for the most part. This is a tough one because some drugs are super expensive that you might not be on prior to selecting a new drug plan. I put in one drug I am on and the cost per year went to $1400. I know with the drug company coupon I have been paying $160 a year. I think one thing for sure is cancer drugs extremely expensive and the coctails they come up with change. Wish they had a maximum out of pocket section. Maybe they do when you select more info.
Helpful preparing for open enrollment. I assume the process won't be greatly different a year later. I just went on a Tier 3 drug for the first time and will definitely be comparing plans.
After looking at the Chart, with the sample that Keith is using, the deductible would only apply to Walgreens if you use them, which is an Out Of Network. Whereas, the CVS is an In Network with the premium cost of only 116.40 for the year.
Just watched your video, good info - I am confused about the $505 deductible in your example - the example shows total premiums and drug cost of $116.40 - is the $116.40 the amount due after satisfying the $505 deductible so your total cost for the year would be $505 +116.40 = $621.40?
It isn't really possible to plan for future medications, because different plans cover different prescriptions at different rates/tiers. That's why it is always a good idea to assess your plan during open enrollment in October
this worksheet is just for practice right? We can try different ways and not commit to anything? If so when it is done how we want it ,then what ?do we submit it to medicare or a carrier ? Sorry as we are new at this. Thank you in advance,your other videos have been helpful to us.
You can look through all the plans through Medicare.gov without commitment. Once you are ready to enroll, you click the enroll button in the corner, where you will enter all of your information, including your Medicare number.
I take a specialty drug that will cost close to $600 a month. That's a big chunk. That doesn't include what I'm paying for A & B and soon to be D and a supplemental plan. I certainly haven't gotten it all figured out yet!
It is not required, but if you don't enroll in one and want one later down the line, you will end up with a life-long late enrollment penalty. There are a few plans with a $0 per month premium, so I don't see any reason not to enroll in one of those to avoid the penalty.
PS. Well actually I've been on medicare for 2 years. But I am looking into seeing what is out there for $0 per month premium. My plan is going from $9.10 a month to $44 for 2025.
i am trying to get a quote for a drug plan thru one of your referrals and they say they cannot quote anything until I am on Medicare?? another concern is I have to deal with 2 different people for medicare and then a drug plan rep to quote it?? I was looking to deal with one person to finalize and enroll into gov programs.
I generally like your videos, but what you don't mention here in this one is that people 65+ who may be on certain meds on a regular basis (which is what this vid hinges on), will LIKELY have other scripts that pop up over the year(s), such as an antibiotic for a sinus infection in my case and a couple of other things that just popped up. I'm paying almost full price for my "new" (not regular) prescriptions (Aetna S/S), and when my $505 deductible is met, my cost drops to a whopping 50% of street price. Today I'm being told to pay $190.05 with my SilverScript card for a prescrip that is 208.48 street price. Wow, that's a whole $18.40 off! But it admittedly gets better when my deductible is met, I will only have to pay 50% off street. This is what an agent at Aetna just told me. What a rip. You should tell the whole story. Might as well go original Medicare!
Keith -- HELLO ;>) Fantastic vids. Say, like others below mentioned, can you explain that $505 deduct. You said those 2 drugs 'don't apply' to the deductible. Q: Is that to say you still have a $505 deductible that 'may' apply to other types of drugs? Or another way - when DOES the $505 kick in? Thx for any add'l info on that. Regards
I run my wife's prescriptions and one of the plans it shows Estimate for the year at $262.76 and if we went with mail order on the same plan it would be $1,762.01, so that plan is ok except for the mail order, other plans the mail order is a lot less. So I guess I just find the plan with the least out of pocket expense as long as the drugs are covered and the pharmacy is close by.
How do you account for new drugs they might start throughout the year? Is there an element of this that makes sure new drugs would be reasonably covered? I'm afraid to just jump at the cheapest plan to cover what she's already on, at the risk we'll get a huge out of pocket cost if they start something new.
It is a bit tricky. There is no guarantee that your plan will have good coverage for drugs you might be prescribed for the year. The best thing about drug plans is being able to change during open enrollment. If you were to be given a new prescription mid-year that isn't covered well by your plan, I would also suggest looking at other options, like GoodRx or CostPlusDrugs. It is hard to pick a plan based on "what ifs" for drugs, because each plan, even the more expensive ones, cover drugs at different prices.
Thank you! That's my question. I've been healthy and am not on any prescription medications. How to best plan for an illness you may or may not get? Or stroke? Or cancer?
I am just looking into medicare part d, here is what I found. The part d donut hole the amount you and the provider have to spend becore you reach max out of pocket for catastropic coverage is $5030. Then again found that Part D has no out of pocket spending limit in 2024 but in 2025 there will be, that changes every year. Kind of contradicting
I take NO drugs not even an aspirin but m told that I have to have drug coverage! I live in Alabama , zip code 36582 can you suggest some help for me? The only income I’ve have s my Social Security
The problem with not enrolling in Part D is that there is a late penalty later when you try to enroll. Most states have some drug plans as low as $5-10 per month that you can find on Medicare's website.
Wow...I really like this guy's videos, but why not clarify the $505 deductible. So, if you are using a "Preferred" pharmacy, do you not have to worry about the deductible??? Help me Obi-Wan Kenobi, you're my only hope!
So im 55 was in motorcycle wreck now 100% disabled . Was happy w/medicare when put on it. Iwas thinking whst you are saying. . So i live in florida . What i was reading when first put on mrd. That if you turned down (my guided train of thought brow beaten into subservertency. R u saying i a csn have A,B,C,D. For around two hundred a month? They are talkin money out of my check every month. So i woulfd get thoughs payments put back in my check
Thank you for your comment! If you have any questions or need assistance regarding Medicare, feel free to ask. We are here to help you understand and make the right choices. Don't forget to subscribe and turn on the notification bell to stay updated with our informative videos.🔔
Thanks a lot for easy to use video regarding Medicare plan D . I follow your instructions and found out cheapest drug coverage for 9,98 a months. Then I called Using same site to Medicare to confirm the cheapest drug plan and my options. Representative pushing me to enroll to cheapest plan for $28,98. That offer was rejected by me , just wasted time and I have enrolled for plan $9,98 by myself.
It's a win!
Excellent program!
Excellent video. Thank you so much.
Thank you very helpful video!
This is a LOT of good information and helps to eliminate so much confusion about what to do during open enrollment.
Thanks Deb!
I just have 6 words to say about this video.... Thank you, thank you, thank you!
You're welcome, you're welcome, you're welcome!
I am learning so much with watching your videos . Thank you so much for sharing this amazing source of information.This one is quite helpful.
Great, thank you for this video very helpful.
Thankyou for this video, it was very helpul for me in understanding the drug part of medicare.
Thank You
Keep up the fantastic work!
I've been sharing your videos ❤
Great as always!!!
Thank you.. please help us understand the 505 deductible
Just FYI: the metoprolol you had in your example should be a once-daily formulation (succinate is an extended-release formulation). Even the short-acting (metoprolol tartrate) is typically only twice daily.
Hey, any idea which medigap companies have the most stable rates or how to look that up???
I wish you would have explained what that $505 deductible is all about.
So, a lot of drugs are free or you can use goodrx, or even coupons from the drug company. At times the prices are dramatically lower. This calculator won't use these for the most part. This is a tough one because some drugs are super expensive that you might not be on prior to selecting a new drug plan. I put in one drug I am on and the cost per year went to $1400. I know with the drug company coupon I have been paying $160 a year. I think one thing for sure is cancer drugs extremely expensive and the coctails they come up with change. Wish they had a maximum out of pocket section. Maybe they do when you select more info.
What does apply to the deductible? Please explain.
Helpful preparing for open enrollment. I assume the process won't be greatly different a year later. I just went on a Tier 3 drug for the first time and will definitely be comparing plans.
Luckily the plan finder hasn't changed much year to year!
You didn't expand on the $ 505.00 deductible that was included ???
After looking at the Chart, with the sample that Keith is using, the deductible would only apply to Walgreens if you use them, which is an Out Of Network. Whereas, the CVS is an In Network with the premium cost of only 116.40 for the year.
And what about the last line labeled deductible ?
Just watched your video, good info - I am confused about the $505 deductible in your example - the example shows total premiums and drug cost of $116.40 - is the $116.40 the amount due after satisfying the $505 deductible so your total cost for the year would be $505 +116.40 = $621.40?
When can I switch Rx plans. Do I have to cancel my current plan, or does the new plan cancel for me
"This guy looks a little familiar" Agreed. Cheech of Cheech and Chong?
😂
The only issue comparing like this is you don't know in advance what drugs you might need in the future and what is the right plan for you is then
It isn't really possible to plan for future medications, because different plans cover different prescriptions at different rates/tiers. That's why it is always a good idea to assess your plan during open enrollment in October
this worksheet is just for practice right? We can try different ways and not commit to anything? If so when it is done how we want it ,then what ?do we submit it to medicare or a carrier ? Sorry as we are new at this.
Thank you in advance,your other videos have been helpful to us.
You can look through all the plans through Medicare.gov without commitment. Once you are ready to enroll, you click the enroll button in the corner, where you will enter all of your information, including your Medicare number.
Great videos! But what if my medications change during the year? Can I change my Part D policy?
You could only change Jan 1 next year.
How do I reach out to your company
I take a specialty drug that will cost close to $600 a month. That's a big chunk. That doesn't include what I'm paying for A & B and soon to be D and a supplemental plan. I certainly haven't gotten it all figured out yet!
Keith - I'm not on any prescription drugs. Do I have to have a drug plan?
It is not required, but if you don't enroll in one and want one later down the line, you will end up with a life-long late enrollment penalty. There are a few plans with a $0 per month premium, so I don't see any reason not to enroll in one of those to avoid the penalty.
@@MedicareonVideo Hi Keith, OK makes sense, thank you for the reply, I appreciate it.
PS. Well actually I've been on medicare for 2 years. But I am looking into seeing what is out there for $0 per month premium. My plan is going from $9.10 a month to $44 for 2025.
What about future drugs you may not know about today or say required drugs for cancer or something like that that may come up in the future?
i am trying to get a quote for a drug plan thru one of your referrals and they say they cannot quote anything until I am on Medicare?? another concern is I have to deal with 2 different people for medicare and then a drug plan rep to quote it?? I was looking to deal with one person to finalize and enroll into gov programs.
👏🏼👏🏼🤩
I generally like your videos, but what you don't mention here in this one is that people 65+ who may be on certain meds on a regular basis (which is what this vid hinges on), will LIKELY have other scripts that pop up over the year(s), such as an antibiotic for a sinus infection in my case and a couple of other things that just popped up. I'm paying almost full price for my "new" (not regular) prescriptions (Aetna S/S), and when my $505 deductible is met, my cost drops to a whopping 50% of street price. Today I'm being told to pay $190.05 with my SilverScript card for a prescrip that is 208.48 street price. Wow, that's a whole $18.40 off! But it admittedly gets better when my deductible is met, I will only have to pay 50% off street. This is what an agent at Aetna just told me. What a rip. You should tell the whole story. Might as well go original Medicare!
Question: you have to pay the $505 deductible cost (that he didn’t want to share with us) before you get any discount on your meds?
Keith -- HELLO ;>) Fantastic vids. Say, like others below mentioned, can you explain that $505 deduct. You said those 2 drugs 'don't apply' to the deductible. Q: Is that to say you still have a $505 deductible that 'may' apply to other types of drugs? Or another way - when DOES the $505 kick in? Thx for any add'l info on that. Regards
It appears he doesn’t want us to know about that deductible cost because he ran past it several times. But then, he’s a salesman it’s what they do.
I don't think they get much commission on drug coverage so probably not worth their time unless you are getting the medical too. @@10speed4
I don't have any prescriptions to put in the search box so I leave it blank and it shows my premium to be $.00, is that right?
Yes, there are plans available for $0 per month!
I run my wife's prescriptions and one of the plans it shows Estimate for the year at $262.76 and if we went with mail order on the same plan it would be $1,762.01, so that plan is ok except for the mail order, other plans the mail order is a lot less. So I guess I just find the plan with the least out of pocket expense as long as the drugs are covered and the pharmacy is close by.
If someone has Medicaid and Medicare, does that person need to have a part D drug plan?
yes they would need a part D plan.
How do you account for new drugs they might start throughout the year? Is there an element of this that makes sure new drugs would be reasonably covered? I'm afraid to just jump at the cheapest plan to cover what she's already on, at the risk we'll get a huge out of pocket cost if they start something new.
It is a bit tricky. There is no guarantee that your plan will have good coverage for drugs you might be prescribed for the year. The best thing about drug plans is being able to change during open enrollment. If you were to be given a new prescription mid-year that isn't covered well by your plan, I would also suggest looking at other options, like GoodRx or CostPlusDrugs. It is hard to pick a plan based on "what ifs" for drugs, because each plan, even the more expensive ones, cover drugs at different prices.
What if you have no drug prescriptions?
Thank you! That's my question. I've been healthy and am not on any prescription medications. How to best plan for an illness you may or may not get? Or stroke? Or cancer?
You will have a penalty of 1% of the premium for every Month you didn't have coverage from the date you became 65
Yes, good question. There's no option on the formula tool for zero prescriptions.
What if you don't take any drugs at this time
I am just looking into medicare part d, here is what I found. The part d donut hole the amount you and the provider have to spend becore you reach max out of pocket for catastropic coverage is $5030. Then again found that Part D has no out of pocket spending limit in 2024 but in 2025 there will be, that changes every year. Kind of contradicting
Why did you not talk about that $505 deductible?
I take NO drugs not even an aspirin but m told that I have to have drug coverage! I live in Alabama , zip code 36582 can you suggest some help for me? The only income I’ve have s my Social Security
The problem with not enrolling in Part D is that there is a late penalty later when you try to enroll. Most states have some drug plans as low as $5-10 per month that you can find on Medicare's website.
Henri
My drug not on the list...I think I'll just buy the cheapest plan again...don't care if I have to buy outside of the plan since cheap drug.
You can have a Part D plan and still utilize things like GoodRX to get your prescriptions.
Wow...I really like this guy's videos, but why not clarify the $505 deductible. So, if you are using a "Preferred" pharmacy, do you not have to worry about the deductible??? Help me Obi-Wan Kenobi, you're my only hope!
My understanding is you pay the deductible first then co payments start
So im 55 was in motorcycle wreck now 100% disabled . Was happy w/medicare when put on it. Iwas thinking whst you are saying. .
So i live in florida . What i was reading when first put on mrd. That if you turned down (my guided train of thought brow beaten into subservertency. R u saying i a csn have A,B,C,D. For around two hundred a month? They are talkin money out of my check every month. So i woulfd get thoughs payments put back in my check
I'M -A???????????????????
Thank you for your comment! If you have any questions or need assistance regarding Medicare, feel free to ask. We are here to help you understand and make the right choices. Don't forget to subscribe and turn on the notification bell to stay updated with our informative videos.🔔