Enrollment Tips | |
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The monthly PDP premium isn’t the only thing to consider. | |
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WellCare is one of the insurance companies that has been approved by Medicare to offer Prescription Drug Plans,
so you know we offer service you can trust!
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Generally, the goal of most Medicare recipients is to find a plan that most affordably covers their
annual medication costs. This includes the plan’s monthly premium, deductibles and co-payments. For
many people with low or no prescription costs (at present), the monthly Medicare PartD (PDP) premium
cost will be the largest cost factor – and therefore, weighs heavily in the plan selection process.
Therefore, if you are taking no or few prescriptions (especially generics), consider the plan with the
lowest monthly premium that covers your medications.
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For Medicare recipients with larger monthly prescription drug needs, the plan’s monthly premium cost
may play a smaller role. If for example, you are spending $500 per month on prescription drugs, a small
$22-$25 monthly premium is not your largest cost factor. In this case, the monthly costs of your prescription
drugs will be a much more important factor.
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Bottom line: Do your math before enrolling. Check to see how much you will pay for your medications under
each plan. The difference between deductibles, co-insurance and co-payments may play a significant role in your
plan selection.
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Add up the estimates of costs in each plan and then decide. Remember, you can always change your plan during the
annual enrollment period.
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