How and When to Enroll in Medicare Part D

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How and when to enroll in Medicare Part D can be tricky. How can you be sure you need a plan? In this video, we explain what Part D plans are and some of the reasons why people choose to sign up for Part D.
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Опубликовано:

26 фев 2023

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Комментарии : 44

@vistamutual Год назад

Well explained!

@BoomerBenefits Год назад

Thanks!

@Scott-ff2oe Месяц назад

Thank you.

@BoomerBenefits Месяц назад

You're welcome!

@mainerin_texas-gordon-9598 Год назад

Bonus - You assist with Part D also, thank you

@BoomerBenefits Год назад

YES! We have a department that specializes in drug plans.

@alexroland8058 Год назад

Thanks for the video! One question though, if I am retired and have retiree coverage, but want to drop that insurance and go with a Medigap plan and Part D plan, will I have a penalty because I didn't sign up initially or is retiree coverage considered creditable?

@BoomerBenefits Год назад

Hi Alex - Typically retiree coverage is considered creditable. The best thing to do is to ask your employer to verify it is creditable. if so, you should not run into any issues!

@latriciapowell3283 Год назад

Thanks for the info… but how can I make sure the Part D plan I choose will cover my medications? Or if I get a new prescription after I already sign up??

@BoomerBenefits Год назад

Hi Latricia - great question! Here at Boomer Benefits, we specialize in making sure you are on the correct plan based on your medications. If you ever get a new medication, you can contact our Client Service Team and they can help you see what your new medication cost will be and if for some reason it isn't covered, will help you with alternatives or filing an authorization with the plan & your provider!

@osiumeh6261 Год назад

Great information on your video. Got a question. I have always heard that if you have FEHB, you do not need to have Part D. Have that changed?

@BoomerBenefits Год назад

Thanks for watching! If your FEHB coverage is creditable, you typically do not need a drug plan!

@osiumeh6261 Год назад

@@BoomerBenefits Thank you.

@kennnva551 Год назад

Should I sign up for Part D if I don't plan to retire until I'm 66? I currently have prescription drug coverage through my employer until I retire. I did sign up for Medicare Part A as required for 65 year-olds. Never mind ... just saw your video saying my enrollment period for Part D is the 2 months immediately following my retirement date.

@BoomerBenefits Год назад

Hi Ken, glad you saw the other video! Let us know if you need other help :)

@mikeberg5003 Год назад

Thanks Danielle for the info. I think the problem that my wife and I have is that we signed up for a Part D plan to go along with our Blue Shield supplemental without realizing we each have a $500 deductible. Ouch. I only take one drug a daily asthma inhaler that until my deductible kicks in, costs $350. After that it's $45/month. I went online to see if we could change during an open enrollment but if I find a plan that has a lower deductible, the premiums are absurd, $75-$90/month with a smaller deductible but most are like ours with the $500 deductible and about a $10/premiium. Am I missing anything? We live in southern California.

@BoomerBenefits Год назад

Hi Mike - inhalers can be pretty pricey on Medicare. The standard deductible for 2023 is $500, so the more expensive your premium, your deductible can be lower. Have you looked on cleverrx.com/boomer for a coupon on your inhaler?

@mikeberg5003 Год назад

@@BoomerBenefits Thanks Danielle. No I haven't checked but I will for sure. Thank you!

@BoomerBenefits Год назад

@@mikeberg5003 You can watch a video to learn more here - ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-uZsXzBZ0_E8.html

@Miasophia22 Год назад

if I am turning 65 in May, I am now applying for parts A & B. I have private health insurance not group coverage. when do I sign up for a supplement plan and a part d plan?

@BoomerBenefits Год назад

Hi Joanne, you will want to start the process this month if possible! We recommend 3 months before you birthday. You can call us at 817-249-8600 for help!

@danbro1970 Год назад

I purchased my Medigap Plan G policy through you a few years ago and have a separate Part D policy through BCBS. Can you please explain the new Medicare drug law? I heard you do not have to pay more than $2000 out of pocket beginning in 2025, but I also heard this does not apply to any of the newer drugs - only older drugs. Additionally, I was recently prescribed a drug, Mounjaro, by my endocrinologist for my Type II diabetes. It was denied by my Part D policy (BCBS) for not being in their formulary, but I could get a similar drug (not the same), Ozempic. I later saw a TV news report that many drugs that are excluded from formularies by insurance companies are done so because the manufacturer does not pay "kickbacks", i.e., discounts that are not passed on to the policyholders. Does this happen? Could this be why Mounjaro was excluded from the formulary and denied to me?? Thanks!

@BoomerBenefits Год назад

Hi there - Yes, that cap does start in 2025. As far as we know, it should be all drugs included. Each drug plan has a formulary, which tells you every drug covered by the plan. Since Mounjaro isn't covered, you would have to file for a formulary exception to see about getting coverage. Some new medications, such as Mounjaro are not covered by many plans - that could be the main reason.

@stevenichols4639 Год назад

How do you find out tier pricing for each part d plan?

@BoomerBenefits Год назад

Hi Steve - you will want to check the formulary for your plan. You will be able to access this through your portal with the carrier or by calling your agent!

@nonenone4219 11 месяцев назад

Are all Medicare part D plans the same choices regardless of the insurance company you choose? Kind of like how medigap plans work?

@BoomerBenefits 11 месяцев назад

Great question - Part D plans are more tailored to what medications you take and pharmacy you use. You will want to go over those on a Plan Finder tool and see what works best for you!

@nonenone4219 11 месяцев назад

@BoomerBenefits Appreciate your reply. I absolutely love all the videos you post. They are extremely informative and helpful to all of us who are just embarking on this new and confusing journey called Medicare. Thank you much.

@rayberger2694 7 месяцев назад

I have a question, I am reading my medicare handbook that came with my medicare card, and on page 20 of the booklet it says that my 6 month window to buy a medigap policy starts when my part B coverage starts ? So I am confused now, Because you said something about 3 months before and 3 months after, or are we talking about two different things.

@BoomerBenefits 7 месяцев назад

Hi there - that is for your Part D plan, Medigap is the month of your birthday and the 6 months after.

@hanqiao1 11 месяцев назад

My case, 68, already in Part A, not in Part B as still working with a big employer. Question: Special Enrolment Period for Part B has an 8 month window period after stop working to enroll, but Part D has a 2 month window, if I get enrolled Part B last month in window period, then enrolled in Part D, any penalty for D on me? Another question, Can I join an Advantage Plan with drug coverage after Part A/B, no need to have Part D?

@BoomerBenefits 11 месяцев назад

Hi there - if you were to wait until the end of that 8 month window to enroll into a drug plan or a Medicare Advantage plan, you would face a penalty of about 6 months. For the drug plan, you only have 60 days after leaving employer coverage to enroll. If you have Part A & Part B as well as a Medicare Advantage plan, you will not need a Part D plan.

@hanqiao1 11 месяцев назад

@@BoomerBenefits Not clear if Part D enrolment requires both Part A/B or just A. But Advantage requires both. Thank you for your reply. Those policies tricky indeed.

@NoelLudvigson Год назад

Really like that BB will also help with D hiccups!

@BoomerBenefits Год назад

We love to be able to help our clients!

@karadouglas4449 Год назад

how do we know if an Advantage plan includes part d coverage??

@BoomerBenefits Год назад

Hi Kara - very important concern! Your agent should let you know if you are enrolled into a Medicare Advantage or a Medicare Advantage Prescription Drug Plan. You can look on your ID card as well and it should let you know about your prescription benefits. If you do not have that, please give us a call at 817-249-8600 so that we can help!

@karadouglas4449 Год назад

@@BoomerBenefits thank you!!