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.

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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.
Medicare Drug Plans
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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Paula Grote
Paula Grote
2024-01-19
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Peggy Born
2023-11-18
This 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.
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Merle Moon
2023-11-17
Mike 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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Grama Judi
2023-11-13
Excellent follow up and service.
William Herrington
William Herrington
2023-11-08
Mike is definitely a great resource to use when you have so many options to choose from on Medicare drug plans.
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Jojo Smullen
2023-11-02
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Roger
Roger
2023-11-02
I met with Mike Bauer at Houston Independent Insurance for not only his knowledge in Medicare insurance but also because Mike also has a great personality! I trust Mikes insight and suggestions. If Mike finds something that could benefit me and my needs he contacts me and let’s me decide if I want to make any changes. Thank you Mike, I appreciate what you do and I respect how you do it! Roger Cox
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Charlie Morris
2023-10-19
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Cynthia Morris
2023-10-17
Mike Bauer has been able to save my husband & myself money every time we have had to reevaluate our policies Thank you Mike
Ed Emig
Ed Emig
2023-10-14
Mike guided my wife and I through the maze of options we needed to consider in starting Medicare Part B and associated supplemental plans. I don't think I'll ever understand this as well as Mike does, but he explained things carefully and thoroughly so I am confident I was able to make informed decisions that are the right ones for my family. I highly recommend him for anyone who has to deal with Medicare decisions.