Medicare Part D Prescription Drug Plans

[Guest guest]

Yes, what I'm about to suggest is some work but well worth it. Someone asked a question recently about selecting Part D Medicare prescription plans. Well, I was in the process of checking mine and just not did so. My existing plan raised premiums and copays. I found out I can save up to $800. I can save $550 per year just by switching to another plan by the same insurer.

You simply go to this page http://www.medicare.gov/MPDPF/Public/Include/DataSection/Questions/MPDPFIntro.asp

and click on Check plans on the left. Then enter some basic information and your prescriptions. I would suggest doing your current meds first. Then just to be safe after you feel comfortable double check adding an additional brand name drug such as Nexium. Finally, if you want worst case add something like Revatio. The differences between plans can be huge.

Now, as an example, here is what I found. I ran my current meds first but getting my Nexium from a Canada Pharmacy. I found that could cost me from $2,807 to $5,354 depending on the plan. My current plan was $939 above the lowest plan.

I then changed to getting the Nexium in the US through my plan. Now the costs ran from $4405 to $7620 and my current plan was $819 above the lowest plan.

Last I added Revatio and the annual costs ranged from $5,413 to $11,980 and my current plan was $579 above the lowest plan.

Now none of these numbers would be the same for anyone else. However, I've been on AARP Enhanced, their most expensive, and in all examples AARP Saver, their cheapest plan, will save me at least $550. This is without changing insurers. Aetna Essentials would save me another $300-400.

Note that in my case the plans with the lowest premiums turned out better than the upgrades for both AARP and Aetna.

Again, this will vary for everyone but I'd really encourage you to double check and make sure you're making the best choice for yourself for 2009. You might be surprised.