Ashford Insurance

How do you compare Medicare Part D Plans?

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Sarah Fuhrmann

Sarah Fuhrmann is an agent of Ashford Insurance an independent health insurance agency specializing in Texas Medicare insurance.

There are a few ways to compare Medicare Part D plans:
  • Use the Medicare Plan Finder. The Medicare Plan Finder is a tool on the Medicare website that allows you to compare Part D plans in your area.
  • Contact your local Social Security office. Your local Social Security office can help you compare Part D plans.
  • Talk to your doctor. Your doctor can help you choose a Part D plan that covers the drugs you need.
  • Talk with a licensed Medicare Insurance Agent.

When comparing Part D plans, you should consider the following factors:

  • The monthly premium. The monthly premium is the amount you pay each month for Part D coverage.
  • The deductible. The deductible is the amount you have to pay before your Part D plan starts to pay for drugs.
  • The copayment. The copayment is the amount you have to pay for each drug after you reach your deductible.
  • The formulary. The formulary is a list of the drugs that your Part D plan covers.
  • The network of pharmacies. The network of pharmacies is a list of the pharmacies that your Part D plan accepts.
  • Look at the coverage limits. The coverage limits are the maximum amount you have to pay out of pocket for drugs in a year.
  • The extra benefits. Some Part D plans offer extra benefits, such as lower copayments or deductibles, or coverage for more drugs.

Once you have considered these factors, you can choose the Part D plan that best meets your needs.

Here are some additional tips:

  • Start early. The earlier you start comparing plans, the more time you’ll have to find the best one for you.
  • Read the plan’s fine print. Make sure you understand all of the terms and conditions of the plan before you enroll
  • Be prepared to answer questions. When you compare plans, you’ll need to answer questions about your health, your medications, and your budget.
  • Ask for help. If you have any questions about comparing Medicare Part D plans, you can contact Ashford Insurance at 817-952-3153.

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