Friday, July 26, 2013

Open Enrollment Period is Approaching: The Medicare.Gov Plan Finder Tool

Open enrollment for Medicare Advantage and Medicare Part D runs from October 15 to December 7. If you are researching and comparing Medicare Part-D and Medicare Advantage plans, the Plan Finder is a helpful tool. It lists all of the plans available in your area, with details about the premiums, and personalized information about the out-of-pocket costs you’d pay specifically tailored for your drugs and dosages.

 What can you find out using the Plan Finder?
  • Get the total out-of-pocket costs, including premiums, deductibles and co-payments, you’d pay over the year under each plan. You might find out that a plan with a low premium and high co-pays for your drugs actually costs more over a year’s time than a plan with a higher premium and lower co-pays for the drugs you need.
  • The tool also shows whether a generic is available for any of your medications; whether the plan offers lower rates for using a mail-order or preferred pharmacy; and whether it imposes any restrictions, such as requiring prior authorization for certain drugs.
  • Just as you are planning for the Open Enrollment Period, you should plan for your future and for your loved ones. If you have a loved one who is already in a nursing home or nearing the need for nursing home care, call The Fairfax Medicaid Asset Protection Law Firm of Evan H. Farr, P.C. at 703-691-1888 to make an appointment for a no-cost consultation. 
P.S. Read today’s Ask the Expert for more details about Medicare’s Open Enrollment Period and the Affordable Care Act.

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