By Steven A. Buttice II
Have you had your prescription drug coverage reviewed lately? Insurance isn’t a one size fits all situations for individuals. It is important to have your coverage reviewed annually. Plans change their formularies, premiums, and deductibles from year to year and what was most cost efficient for the current year might not be for the following. They also cover medications differently. Even if you have not made any changes to your medication list, there could be cost savings! Whether you receive your coverage through a stand-alone prescription drug plan or a Medicare Advantage plan that includes prescriptions, there could be cost savings.
The value of having an independent who is local is crucial. We could compare many companies along with their different plans and find the most cost-efficient plan per individual based on their medications and pharmacy of choice. We don’t have to fit people into the same carriers, we find the plan that best meets their needs.
The important dates to remember are October 15th-December 7th. That is commonly known as the Annual Enrollment Period. This is your window of opportunity to make any changes to your prescription drug coverage or Medicare Advantage plans for the upcoming year. If someone has a Medicare Advantage plan, they can also utilize the Open Enrollment Period starting January 1st – March 31st.
If you have any questions regarding what you just read, do not hesitate to reach out to an agent you trust. I appreciate you taking the time and reading this article, I hope it was beneficial. Remember, money is always better in your pocket than the insurance company’s.
For more information, contact Medical Reimbursement & Management Services, Inc., Medicare Specialists since 1984, focusing on the issues of Older Americans: legal, financial, free guidance for residential placement and healthcare issues. Call: 309-693-1060. Website: www.MRMS-INC.COM. Location: 809 W. Detweiller Dr., Peoria, IL 61615.
