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SKY ROCKET MEDICATION JUMP"S
posted at January 18, 2014 10:57 AM EST
Re: SKY ROCKET MEDICATION JUMP"S
posted at January 18, 2014 9:52 PM EST
First: November 27, 2011
Last: March 7, 2014
Medicare plans which are offered by the private insurance marketplace, whether a stand alone Med D or a MA with a Med D plan, are NOT to be set on automatic. Every year, you are given the chance of open enrollment. During this open enrollment period you can evaluate or re-evaluate each plan that you have access to within you georgraphical area.
You check your benefits and cost based on your own needs - under Med D you check the availability of the medications you are on based on the insurance companies formulary list - you check the tier rating too.
In 2014, since the donut is in the process of closing by 2020, insurance companies are adopting formulary cost-sharing tiers as well as preferred pharmacy networks. You will get your BEST price if you use a preferred pharmacy network.
The dominate plan design for 2014 plans is the a five-tier benefit design, with the addition of a second generic tier to the four-tier arrangement which many plans had previously. Drug Tiers are the logical grouping of prescription drugs on a Part D plan formulary and the formulary is different from company to company.
At this point, you should check to make sure you are using a preferred pharmacy network or plan desiginated mail order. These should be listed in your booklet for the plan or online.
You can always check with your doctor to see if there is a tier 1 or 2 generic that is a good substitute for the one that has gone up in cost sharing.
Next year, during open enrollment, check your benefits & medications on different plans and see which one comes out the best in your area. Medicare Plan Finder for Health & Prescription Drug coverage
Always remember that when a new benefit is added or expanded by our government (i.e. closing of the donut hole), somebody has to pay.
Hope some of this helps you,