Best Medicare Part D Plans is the one that meets most of your priorities.
► Medications – Look at drug plans that include your prescription drugs on their formulary. Every company that offers Medicare Part D plan must offer a formulary. A Formulary is a list of prescription drugs covered by a drug plan.
► Balanced drug expenses throughout the year. Look for part D plans with no or low deductible. Specially a deductible in tier 4-5 drugs (name brand and specialty medications).
► Generic Medications at $0 cost. If your medications are the generic kind, make sure your pharmacy is in the network and your generic medications are free ($0 cost).
► If you don’t have medications right now, avoid getting penalize for not having a Medicare Part D plan by paying for the lowest price plan in your area. If you need prescription drugs in the future, all plans still must cover most drugs used by people with Medicare.
All Medicare Part D plans must cover a wide range of prescription drugs that people with Medicare take, including most drugs that treat Cancer or AIDS/HIV.
Most Part D plans have their own list of what drugs are covered, called a formulary. If your plan does not cover your medication or a new medication, your Doctor believes none of the drugs on your plan’s formulary will work for your condition, you can ask for an exception. An exception is basically asking your plan for permission to cover your medication since it’s the one working for you after trying other similar brand or generic medications.
► Ask for Generic medications.
► Compare Medicare Part D plans to find one with lower drug costs or with no deductible.
► Apply for Extra Help, a program for those with limited income and resources. In 2021, you may qualify if you have up to $19,320 in yearly income ($26,130 for a married couple) and up to $14,790 in resources ($29,520 for a married couple).