Medicare Open Enrollment: The Importance of Part D
Medicare's open enrollment period has begun, and millions of Americans will be reviewing their current Medicare plans or enrolling in coverage for the first time.
It's crucial to pay extra attention to your prescription drug coverage plan, or Part D, as failing to do so could come at a significant cost.
The lowest premium for prescription drug coverage might not actually save you the most money, as copays and other factors should be considered.
- Insurers adjust copays, premiums, formularies, and preferred pharmacies each year.
- They can also adjust the way medications are grouped and priced.
Make sure you take copays into consideration and do the math.
Author's summary: Review Part D carefully during Medicare open enrollment.
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