How do you 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.