New Year, New Plan: Medicare Part D Enrollment Facts to Help You Save in 2016
Did you know that 90% of Americans 65 and up are currently prescribed at least
one prescription drug? On top of that, 39% have at least 5 prescriptions.1 There is a potential drain on finances if you
don’t have the proper coverage, so knowing the facts about your insurance plan
may help you save money in 2016.
As you may or may not already know, Medicare Part D open enrollment for 2016
started October 15th and continues until December 7th. During this time,
enrollees have the ability to change plans if they wish. Unfortunately, studies
have shown that 7 out of 10 enrollees actually don’t take advantage of this
opportunity, even though it could save them money.2 Each year, the
medications that are covered in your plan could change, your premiums and copays
could increase, and your preferred pharmacies could be affected. Because almost
every aspect of your plan (including formulary, drug prices, premiums, and
co-pays) can fluctuate annually, right now is the best time for you to make sure
your plan is the one that best suits your needs.
If you have discussed changing medications next year with your doctor or have
switched already, it is important to make sure that these expenses will continue
to be covered as well. For more details and information about why it’s important
to stay up to date with your plan, click here.
During this open enrollment period, pharmacists can be a very useful resource
with helping you decide whether or not to switch plans for the coming year. They
have the tools and information to keep you up to date, and at Health Mart, we
are dedicated to getting you the medication you need at an affordable price.
Call or stop by today and speak to one of our qualified pharmacists about how
you can save on your prescriptions this year!
To find your local Health Mart pharmacist and find out if your plan is still
right for you, use our Store Locator.
1. Centers for Disease Control
2. Kaiser Family Foundation, 2014
Posted on Mon, November 2, 2015
by Health Mart