Part D Prescription Medicare Drug Plans
Mike explains the donut hole and Part D.
In this short video Mike explains how to find help paying for part D prescriptions.
Medicare prescription drug plans, also known as Part D, are designed to help people with Medicare afford their prescription medications. These plans are offered by private insurance companies approved by Medicare. If you have Original Medicare (Part A and Part B), you can enroll in a stand-alone Part D plan. If you have Medicare Advantage (Part C) you may choose a plan that includes prescription drug coverage. Medicare prescription drug plans have four phases: Deductible, Co-payment, Coverage Gap, and Catastrophic. These phases are like riding a roller coaster, so it is important to understand your coverage. It’s essential to choose a plan that covers your specific medications and pharmacies to ensure you get the most cost-effective and convenient coverage for your prescription needs.
When considering a Medicare Part D plan, it’s crucial to evaluate the list of covered drugs, known as the formulary, to make sure your medications are included. Additionally, understanding the plan’s cost-sharing structure, including copays, coinsurance, and any coverage gaps (the infamous “donut hole”), will help you manage your out-of-pocket expenses. It’s wise to review and compare different Part D plans annually during the open enrollment period, as plan details and your medication needs may change, ensuring you have the most suitable and cost-effective coverage for the year ahead.
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Karen F2024-04-10Moving to Texas from out of state and enrolling in Medicare for the first time was very overwhelming to say the least! I found Mike Bauer from his YouTube videos explaining Medicare in terms I could understand. We met with Mike and were immediately put at ease with his extreme knowledge of Medicare, whether to go with Medigap or Advantage plans and explaining the different plans that are offered in Texas. He is very responsive by phone and email. We highly recommend Mike to help you with your Medicare Coverage options.
Cynthia Sawyer2024-04-04I highly recommend Mike for any Medicare questions or concerns. He is extremely knowledgeable on all the Medicare supplement plans offered. We worked together to find the right plans that suited me and he went thru the entire application and signup process while in his office. If you need help choosing your plan, please contact him. You will not be disappointed!
SUSAN2024-03-21Mike Bauer helped me to secure a Medicare Supplement and RX plan through Humana. He was very patient and professional during the process. It was a bit time consuming, but he had my best interest at heart, and we work through many different avenues for coverage. I would recommend Mike to anyone needing additional insurance.
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Billy Matlock2024-03-20So glad I turned to Mike Bauer!!!! He was referred to me by a friend of mine and though I thought I was on the right track he was so helpful navigating and answering all my questions. Because of our work together I believe we reached a successful choice on my Medicare Advantage plan. Thanks Mike!!!! You rock!
Pat Gray2024-03-06Mike was a lot of help when we were setting up our medigap policy. He is very patient and knowledgeable about the policies he has available. I have no problem recommending him to help people through a very confusing line of products. Pat Gray
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Peggy Born2023-11-18This month was my second time working with Mike on Medicare decisions. He was very helpful and knowledgeable - and helped me understand and make informed decisions. I have recommended him to several friends and will continue to do so. He is very patient and kind.
Merle Moon2023-11-17Mike Bauer has provided expert service to my wife and I in navigating our entry into the world of Medicare. He has been a key resource in helping us choose the best options for our needs and provided hands on guidance in the signup process. True professional!!
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