This was excellent. What I discovered is how important it was to put tier 4 & 5 drugs in as a worse-case scenario for next year. The "what if" I have to go on that drug. Thank you for your attention to detail.
My present Part D company notified me that they were raising my premium 75% and my drug costs would go up dramatically. Following your easy to use instructions, switching to a lower premium along with lower drug costs was a snap! Thank you!
Thank you! You've explained the $2000 cutoff better than any other video I've seen. This is only my second year as a Medicare recipient and I've run into something puzzling. I use a particular tier 3 generic that several insurance companies have now banished from their formularies but, in what seems like a strange move to me, they've left the name-brand version of the drug on their formularies. This seems odd to me because the name-brand version is more expensive than the generic, as expected, yet they chose to keep it and dump the generic. The way I see it, I can choose a new plan that still covers the generic, my premium will go from the low $20 range to the mid $80 range, or I could stick with my current plan and use a coupon from one of the coupon services which would make the price of the generic tolerable. Since I feel like there is some sort of scam going on here, I'm likely to choose the new, higher premium plan, because it's only about $100 more per year than relying on a coupon with a formulary that doesn't cover the generic, and I have a feeling that once people discover this generic has been removed from several plan formularies, those coupons will offer less and less of a discount. I never thought I'd have to become an expert in the world of medical finances when I switched over to Medicare at 65... Thanks again for your content!
Thanks Erik. I did this for myself and my sister. We're both on low cost generic drugs so, we're both keeping the $0 premium W plan. It's odd too that one of her drugs which is Tier 2 this year has moved to Tier 1 for next year.
Thank you, thank you. This showed up on my feed just as I was trying to figure out the new plan I was going to need. It answered many of the questions I was having. Also liked the examples and comments from others that helped me navigate through things.
My Humana plan went from $34/month to $80/month for 2025. I just enrolled in a Wellcare Plan for 2025. Your video really helped me to make the change. Thanks.
I'm staying with my Wellcare Value Choice. I've already checked it out for 2025 -- my monthly premium will be $0.00 and I will only pay $5/month for one of my maintenance medications and the other three are zero copay. Thus, my total Part D cost for 2025 will be $60.00 unless I get prescribed an antibiotic or some other type of medication. My wife's Aetna Silver Script premium is going up from $9.80/month to $44.80/month and the copays will be much higher for her drugs, so she is going to switch to Wellcare Value Choice.
This video is excellent. Can this possibly be true? I'm on 3 generic tier 1 medications on the 2025 Wellcare Value Script (PDP) that are listed at $0.00 (zero) at preferred pharmacies near me. I understand that there is a $590 deductible for tiers 3-5 but I don't currently take any medications in those tiers. So, assuming my current medications remain the same, how is it that I can sign up for a plan and pay nothing all year?? Can this be true? Why would I keep my 2024 plan where total drug and premium costs for 2025 will be over $700? What is the catch?
EXCELLENT video and explanations!! I've procrastinated in changing my stand alone Part D plan but am doing it today. I no longer take ANY prescription meds so this was a total God deal to find your video tiday🥰 Tyou SO MUCH!!!
OMG! What a wonderful tutorial I have been so confused trying to find a new drug plan because my current one has been dropped by the company. This video was just wonderful to help me understand what I was seeing thank you ever so much.
As you said - easy peasy. I laughed a few weeks back when I got the new costs for my existing Part D for 2024 (half year) - an increase of 258%. Um nothankyouverymuch. I don't know how these zero monthly premium plans make any money, but guessing that's because of our totally effed up Big Pharma involvement (as a retired healthcare provider, don't get me started...) Thanks as always for your assistance. I was waiting for you to weigh in! And hope y'all had a fun road-tripping summer. It was fun to watch.
Yeah... you're not alone on those big increases :( Road trip was amazing! Only 1 more state Medicare video to post from that, haha! Took a long time to get through those and get them edited. Appreciate you!
Here we were offered a zero plan. It covered all of my drugs so I took it. I think just about everyone that changes (if it covers their drugs) will change to that plan. I wonder if the RX company that offered it is relying on numbers. They might make enough via large numbers of people (many with low cost drugs) signing up for their plan to break even or even make a little.
Don't forget, (CMS, the federal government, your tax dollars) pay insurance companies a monthly amount for each person on a Part D drug plan. So, Wellcare is getting quite a bit of money from tax dollars to offer the $0 plan. (I have that plan as well.)
Very helpful tutorial! Thank you. I’ve also taken your advice from previous videos and switched supplemental plans. Now I’ll be saving almost 50% on my 2025 premiums, a much greater amount than the small annual deductible but with all other coverage identical. I call that VERY helpful advice!
Thank you for this very informative and very helpful video. I was trying to check before open enrollment to see if my current plan D was still the best for me. Now that open enrollment has started I will check again with the setting you said to use.
Even with my state retirement insurance, I am now -2025-obligated to pay a subsidy for my medicare advantage. If I don't enroll I lose the option for good and then must rely on third party options. Our healthcare costs continues to rise, and we get less and less for the care and yet obligated to abide by the USA's very complicated healthcare system. (Reading through a 400 page plan)As a senior, I will not live to see any resolution. Been going on for decades. The healthcare CEO's make 20 million dollars while citizens struggle to find life over death. Just frustrating. But did enjoy your video and helps to understand our complicated mess. Triggers my anger too! lol.
I am 68 years old I am still working full time and have insurance thru work. I am currently drawing social security and I have Medicare part A. I'm trying to decide if i should keep my work insurance or apply for part B and get a supplement or advantage plan. What's your advice
Comes down to a math equation between your costs and experience on your company plan vs. the cost and experience on Medicare. My email is erik@theretirementnerds.com if you'd like to go deeper.
@@CindyMcPherson-j1r You should Not get an Advantage plan! Medicare + a Medigap plan is what you want. Many hospitals & doctors aren't taking some Advantage plans. Remember all the Medigap plans no matter the Letter offer the exact same coverage. I have Plan G. Do not let greedy agents steer you towards an Advantage plan. They get big perks/incentives for doing this. So why would they steer you toward Medicare + a Medigap? Cars, vacations & other incentives for Advantage plans, that's why.
Mine Medicare doesn't start until march and I'm new and i haven't pick a part d yet since I'm on SSDI i have lots of medications and Dr visits but blue rx is the only part d that covers my medications and the pharmacy i use
I have part D through my Bluecross/Bluechip Advantgage Plan…Right now my co-pays are high because of Cancer tests, treatments, etc…I need something better…I’m on 9 meds and have about 8 different doctors. What can I do? I live in the 02860 zipcode…I don’t get any help with goverment programs like Medicaid, now what!
Erik - what suggestions to you have for picking a Part D stand alone drug plan if you don’t take any medication on a regular basis. I currently have Aetna SilverScript SmartSaver which has a $5.30 monthly premium. That plan will not be offered in 2025. If I don’t make a change, I will be automatically enrolled in their Choice plan which has a $28.30 monthly premium. Deductible and co-pays have basically doubled for 2025. It’s hard since I have no medications to input for comparison sake.
When you go through this tutorial on Medicare.gov, what is the lowest cost plan available to you? Do you have any of the $0 premium plans in your area? If so, that would be a good option if you don't have medications.
Perfect! Thank you so much! I suppose I should not complain, but as a person that has no drug needs, such 'surprises' with low premium plans are more like booby traps! I'll go have a look now, as my current plan is discontinued for 2025.
I have a good Advantage plan in California. And I have never signed up for Part D as I have not required much in the way of drugs. But when my retirement income increased and the monthly Medicare premium increased, now I have an additional charge of $12 per month for Part D. Is that correct?
Yes, it is. Your advantage plan has a Part D plan included in it, so you are getting the Part D surcharge for having a higher income. If you just had 1 year with the higher than normal income, that extra amount will only last for a year.
Erik - this is one of the most useful videos I’ve seen on any topic. Thank you! So very well done! Quick question: Let’s assume that someone makes the best choice for themselves based on the low cost drugs they are on. Then, mid-year their doctor prescribes higher cost drugs to handle their worsening condition. Looking at the higher cost drugs, a different plan would be better. Is that person stuck with their current plan until the next open enrollment period? Take care, my friend. Awesome job!
You are too kind Anthony. Appreciate you! Yes, that person is stuck in their current plan until the next annual enrollment period unless they have a special election period reason - like they move outside their current plan's coverage area. But, most likely stuck on that plan until the following January.
@@Theretirementnerds Thank you! There are all kinds of risk calculations that we all have to make. Although those choices are hard no matter what, they are made easier by having your great information. Appreciation back at you!
@anthonygardner400 yeah, so hard to try and predict the future. Would hate to get a higher cost plan, pay for it, and never need it. we don't ever make drug plan recommendations like that, but definitely happens.
Thank you for an excellent explanation. Just one question. If I change my drug plan, do I need to cancel my current plan or will that happen automatically when I enroll in the new plan? Thank you!!
Thank you for watching! You don't need to cancel. By signing up for the new one, it will automatically cancel the old one starting January 1st. You will still have and use your old one through December 31st. Your new plan starts January 1st.
My wife and I are currently on Part d plans and use some expensive medications. My wife's plan dropped both of her expensive medications for 2025 plus raised the premium and deductable! There is fortunately at least one plan in our area that covers both. The cheapest plan for me is one of the low cost ones, but some investigation illustrated that they do not include some higher priced medications that I took in the past. Is it reasonable to pick a plan with higher premiums on the supposition that their formulary is larger in case other expensive medications are required? I did not find an easy way to get the size of a plan's formulary. Thanks for the content of this video!
During this open enrollment period, can you do a video regarding difference between "basic" and "enhanced" Part D plans? It is my understanding (from another Medicare You Tuber) that "enhanced" plans will have less TROOP (true out-of-pocket) costs because the TROOP is based on the "standard benefit cost calculation" and with an "enhanced" Part D plan you will have lower ACTUAL out of pocket copays/coinsurance/and 0 deductibles and reach the $2000 cap without actually having incurred the full $2000 cap since it is based on "standard benefit cost". Confusing, isn't it? Need you to explain all the differences between the two different types of Part D plans.
I agree. Many UA-cam videos don’t explain this at all. One who takes high cost drugs may assume to go with cheapest plan assuming she/he has to pay $2,000 out of pocket anyway.
Excellent information and presentation, as always, Erik. I am shocked at the increase of my place holder Part D (I take NO medications) from $9.90 per month in 2024 to $44.90 for 2025! If my math is correct, that is approximately a 453% increase! I will be looking at other plans. What is your interpretation of these across-the-board large increases among many plans/companies for 2025?
Thank you so much! Yes... you're not alone with those increases :( Do you have one of the $0 plans available in your area? This video sort of goes over those thoughts :) ua-cam.com/video/lS1LJS9tues/v-deo.html
Wait until Medicare starts paying for Ozempic, the magic weight loss drug. Just turn 67 yesterday. I have kept my weight at 168lb (5'10") for the last 30 years. I have been on Intermittent Fasting for 15 years, basically no calorie intake after dinner until noon time. I put in 5 miles walking on an empty stomach at 5:30am every morning. None of my friends or neighbors willing to do that. I try not to think of the fairness issue.
@@Theretirementnerds Yes, sadly, not the "Lone Ranger" on this one. Thanks, Erik. You are appreciated by all who take advantage of your Medicare expertise! God bless!
The Inflation Reduction Act just moved where people pay. They reduced the costs of medications so the carriers recoup that with higher premiums. Thats just how I am seeing it.
We usually recommend yes. Search to see if there is a $0 plan available in your area and get that. That way, if you ever do need a plan in the future, you don’t have a Part D penalty.
Great video! Even though we are planning on staying on employer insurance for another couple of year I thought I’d check the part D plans out especially because we have family and friends already on them and the possibility we would be forced to switch if employer insurance is considered not credible due to the new out of pocket limits. I was surprised to discover how many drug aren’t on any part D formulary in our area including some generic drugs. I know these drugs were covered last year because I know people taking them and getting them through the part D plans. I’ve had to remind some family and friends to double check this year because they’re used to just letting the plans roll over. There was a lot of eye rolling but they’re doing it.😂 PS. You forgot the magic word.
Thank you for checking it out! Yes... people need to be reviewing this year. A LOT of changes out there. And left out the magic word for this one :) Have a lot of partners who want to use this video on their own communications, so kept it a bit more professional :)
@@TheretirementnerdsI also want to use this in communications with my clients. Your work is amazing, admirable, inspiring, etc. What does it take to partner with you? What would you need or want from me to get your blessing?
Thankfully I am not taking any medications. So, what plan do I choose here? Is there a way to state this and avoid paying a premium that I do not need? For the record I have plan G for 2024. Thank you.
Thanks for asking this question! I'm in the same situation (although with Plan N). It's really disappointing ... ok, infuriating!, to HAVE to pay a premium for drugs when you don't take any prescription medications OR face premium penalties later if you don't sign up when first Medicare eligible. The penalty can add up quite a bit if one delays getting a Plan D; and, the penalties never go away as long as you have a coverage plan! It really seems like a strong-arm-robbery. If one signs up for one of the "no cost"(no premium) plans, will it qualify under the regulations to avoid the penalties? Will it actually provide decent coverage for the most common prescription medications? How can you know what type and amounts of actual coverages are in each of those plans? There are so many questions. I do appreciate the video and am equally thankful for the helpful information given.
For most, fixed costs through premiums are going up in 2025. For some, they will stay the same or could go down :) Medications make a big difference :) Appreciate you watching!
My wife Part D plan went up by almost $30. She is not on any prescribed medications. My drug plan does not have any premium costs. Should I just change her over to my same plan because we know there are covered pharmacies in our catchment area? By the way, just love your videos.
IF she isn't taking any medications, I'd switch her to the $0/mo. Wellcare plan. My spouse starts Medicare in April 2025 and takes no medications as well. That's the plan he'll be signing up for as well -- just to have drug coverage.
Trying to figure out the new plans for 2025. I take 5 meds, one tier 2, the rest tier 1. So total monthly premium $0.00 should be the best for me? After I pay the deductible?
I've used the tool, and there's something I don't understand. I've got some high cost drugs in there, and I know I'll hit the $2,000 cap. Yet I'm presented with plans that show me hitting the cap in mid year, but the total yearly cost is less than $2,000. How is that possible? Are there some nuances to the $2,000 cap that I just don't understand?
I've since learned that the $2,000 cap isn't quite straight forward. The $2,000 Out of Pocket isn't always what the customer pays. It's based on the Medicare defined standard costs, which isn't explained anywhere in the Medicare information.
My understanding, each Part D plan falls under one of the two Drug Benefit Category, Basic or Enhanced. With Basic, $2,000 Max out of packet is applicable. With Enhanced, calculations are complicated and could very well be less than $2,000 for certain plans that have $0 deductible and fixed $ copay (vs % co-insurance, i.e. 25%) for higher cost drugs.
Thank you for this information. My dad got his renewal from Aetna Silver Script, and his rate increased 660%. I think that is terrible for a person that is taking one prescription (tier 1). Using your information, I will be able to find a plan that is a much better option.
Thanks for the video. I want to keep working and work to the State of Illinois. How do I know if my state insurance follows Medicare rules and guidelines, so I don't have to use Medicare yet?
Very helpful video for someone going thru this for the first time. You don't mention looking for the qualifiers, like pre-authorizations (PA) or Quantity Limits (QL). How different are those between plans?
I have an med account. I did not initially sign up for med d. Does the price shown, include the penalty? I am currently not taking any meds, so not sure how to compare plans
Who can help my boyfriend with his medication list?? I don’t understand the names or milligrams. Where do he go for help? He was just diagnosed with throat cancer and needs tier 4 meds, Chemo, Radiation….Not sure he can get generic meds or not…He needs help!
You'd need to wait until the next annual enrollment period to make a change. Or, if you have a special election period, like you move outside your existing plan's coverage area.
My wife encountered this. The insurance company went ahead and covered the initial 30 day fill, but informed her that they would not cover any refills, and provided a list of alternative drugs that they do cover. She will take the list of alternative drugs to her doctor to get a prescription for one of the alternative drugs that is covered by her prescription plan. The company said that she could apply for an exception.
I think this is what you implied but I would like to confirm: If someone is in a drug plan for 2024 and enrolls in a different plan for 2025, will they be AUTOMATICALLY un-enrolled from their current plan, or will they have to un-enroll themselves?
Some plans have a deductible and some don’t. Does sorting by lowest drug cost and premiums still give you the lowest overall cost or do you have to add the deductible to the cost presented to get your true cost?
Sorting with lowest drug cost and premiums will still get you the lowest overall cost. It's looking at your medications and factoring in any premiums, deductibles, and copays/coinsurance :)
Can you shop at two different in-network pharmacies for your meds? On my list of yearly cost of drugs, the two Tier 4 drugs are cheaper at the local family pharmacy by $250; however, all the Tier 1 drugs are cheaper at CVS. (Though I did hear you say costs can vary through the year.)
@@dianedimidio7353 I have never had any issue using multiple pharmacies during the year. Just be sure that both pharmacies are "in-network" and "preferred" to get the best prices.
@@dianedimidio7353YES you definitely can. It is a good way to get your overall cost lower than the Medicare calculated cost. A little less convenient but if the cost saving is worth it to you, Do It.
Okay I have Anthem blue cross and blue shield advantage plan and I’ve already spoke to Anthem and my doctor and they both said that everything is going to be the same for me. Your thoughts??
This video is for standalone drug plans, not advantage plans. This one is a tutorial for those not on an Advantage plan. Hopefully that clears it up a bit.
Question - do all prescription drug plans follow the same tier level for a given prescription? I ask because if not then I don’t think the total premium and drug costs are accurate but I may be wrong in my assumption. Thanks!
My retirement plan has dropped Silver Script coverage. I need to select a Part D drug plan. Currently I am on a generic low dose pain med (oxycodone 10mg), filled thru Giant. Is that a Tier 3 med and do any of the plans permit it? Or are they going to deny me & throw my life & body into a tailspin?
The formulary is the full list of drugs that a company agrees to cover in some way. If the drug is not on the formulary for that company's drug plan, they don't cover it for you.
help me figure out how to sign up for a plan when i don't yet have my permanent address. I bought an RV and have been traveling. I use my in-laws address as a mailing address Texas) but i am currently traveling and in (Las Vegas) until year end. Hitting all the national parks on my way to Colorado. I will settle down somewhere by September. What can I do? Medicare kicks in January 2025
If you don't have any high cost medications to add how do you assess a plan's formulary? The formulary seems to be the biggest driver of cost passed to the customer. I'm looking for the best zero/low cost plan and have no current medications, but want to choose wisely in case this changes. I tried adding in the drugs mentioned in the video, but they default to the high cost plans with the best formulary.
I assume that the "high cost" plans you refer to are the ones with higher monthly premiums. When the tool does that, it is showing you the plans that would be the lowest total cost, drugs & premiums combined. You can still show the details for the zero premium plans to see the cost for the drugs you added.
I was surprised that it seems like all of the available plans have changed their Tier 3 copays from a fixed price ($11 for my Wellcare Value Script plan) to a 25% copay...which for an expensive drug is a *huge* difference! Do you know what happened that this change happened?
I am currently on $9.80mth on silver script SMART SAVER PDP for 2024. I missed the enrollment period and just found out that Aetna changed that plan to silver script CHOICE pdp $44mth. What are my options - this 400% increase is daylight robbery. medicare support tell me that if i don't stay in this ripping of plan, i will have to pay late enrollment penalty which i have to pay for rest of my life - lifetime never ending penalty . what are my choices? i am generally very health and i was thinking of opting out but medicare support say it's not worth it to drop out of this plan. what are my choices
Correct! Mail order calculations work a bit differently. In the first example, you are correct. For the lowest overall cost plan, the default is to show retail pharmacy costs! Yet another thing to keep in mind through all this!
YES!!! You need to sign up for Part A (no charge) or when you sign up for Part B, you will be paying extra on the premiums for life! People then go on Part B when they leave their job and/ or no longer have any medical insurance. Please call Medicare! My Uncle refused to do so and then paid the penalty fees for life.
How can a O premium drug cost save you money,when the deductible is over $500. I don't spend near that much every year for drugs, so how does that help me
Just so I am clear, only the drugs listed in your drug list are covered? What about random "I am sick" prescriptions i.e. antibiotics, some sort of rash cream, whatever. None of those are covered because they are not on "the list"?? That seems insane. Regular employment insurance pays for whatever you come into the pharmacy for. So what price point does one have to pay if it isn't "on the list"???
The list of drugs that you enter, at the Medicare site, are used to calculate the yearly cost of each plan. During the year you are never limited to the list. The list that you should be concerned with is the insurance company formulary list, which says which drugs the company covers and which tier they are on. The tier determines your cost for the drug. The random "I am sick" drugs can still be covered by the prescription plan, and usually are covered, as long as they are commonly prescribed drugs, but each company has a different formulary list.
What happens if I signed up for a stand alone part D for the very first time to comply with the Medicare rules and the following year I cancel the plan. What will Medicare do???
@@onoone58 To avoid any penalty in the future, just sign up for a zero premium plan. You can always switch to a different plan in future years during the AEP.
@@SpynCycle57 Are you talking Part D? I am not even on any prescriptions, and now they raised it from $9.10 to $44 per month. I didn't know there is an option for a zero premium plan. Is that available for Original Medicare? Sorry I should be asking the video guy!
✓✓✓✓✓✓✓✓✓ If he is talking too fast for you, you can set the playback speed at a slower rate. Just click on the video to display the Settings icon (it looks like a gear wheel) in the upper right of the video, then click on playback speed, then click on .75x. It will slow down the video to 75% of the normal speed.
I use subtitles. If he's going too fast I just pause the video and read the subs until i understand what he's saying and the point he's trying to make.
You have excellent information. It would be helpful if you could speak a bit slower. Everything you say is important and, we miss some of it due to the tempo.
Do you have a link to the 2025 Wellcare formulary? All I can find is updated 2024 formulary info. Also, Tiers 1-2 have no deductible, but new in 2025 is the deductible kicking in for tier 3. And I think that one should see if POTENTIAL drugs in the same category as their current drug list are covered. Old bodies just keep getting older and needing more expensive meds and our docs aren't likely to wait for the Medicare Part D enrollment period to prescribe more costly drugs.
I'm going to change this to lowest monthly premium immediately followed by "PLEASE DON'T EVER DO THIS" I understand the reasoning behind this, but still funny.
If my drug is not in formulary of my Medicare advantage plan. I was told by the licensed agent to have the prescribing doctor ask the insurance company to add the particular drug to their formulary. Does that really work?
This was excellent. What I discovered is how important it was to put tier 4 & 5 drugs in as a worse-case scenario for next year. The "what if" I have to go on that drug. Thank you for your attention to detail.
Appreciate you taking the time to watch! :)
My present Part D company notified me that they were raising my premium 75% and my drug costs would go up dramatically.
Following your easy to use instructions, switching to a lower premium along with lower drug costs was a snap!
Thank you!
So glad it was helpful! Thank you for watching!
Thank you! You've explained the $2000 cutoff better than any other video I've seen. This is only my second year as a Medicare recipient and I've run into something puzzling. I use a particular tier 3 generic that several insurance companies have now banished from their formularies but, in what seems like a strange move to me, they've left the name-brand version of the drug on their formularies. This seems odd to me because the name-brand version is more expensive than the generic, as expected, yet they chose to keep it and dump the generic. The way I see it, I can choose a new plan that still covers the generic, my premium will go from the low $20 range to the mid $80 range, or I could stick with my current plan and use a coupon from one of the coupon services which would make the price of the generic tolerable. Since I feel like there is some sort of scam going on here, I'm likely to choose the new, higher premium plan, because it's only about $100 more per year than relying on a coupon with a formulary that doesn't cover the generic, and I have a feeling that once people discover this generic has been removed from several plan formularies, those coupons will offer less and less of a discount. I never thought I'd have to become an expert in the world of medical finances when I switched over to Medicare at 65... Thanks again for your content!
did this yesterday, but thanks so much. Was good to know we did it correctly.
Thanks Erik. I did this for myself and my sister. We're both on low cost generic drugs so, we're both keeping the $0 premium W plan. It's odd too that one of her drugs which is Tier 2 this year has moved to Tier 1 for next year.
Super strange. A lot of things happen behind the scenes that can cause certain medications to move around in unexpected ways
Just found you today. Clear instructions. Thank you, and am subscribing.
Appreciate you so much! Thank you!
Thank you, thank you. This showed up on my feed just as I was trying to figure out the new plan I was going to need. It answered many of the questions I was having. Also liked the examples and comments from others that helped me navigate through things.
So glad it was helpful! Thank you for watching!
This is the best explanation of Plan D ever, for realsies!
Thank you so much! :)
My Humana plan went from $34/month to $80/month for 2025. I just enrolled in a Wellcare Plan for 2025. Your video really helped me to make the change. Thanks.
Thank you for watching! Glad it helped you find a lower cost plan!
I'm staying with my Wellcare Value Choice. I've already checked it out for 2025 -- my monthly premium will be $0.00 and I will only pay $5/month for one of my maintenance medications and the other three are zero copay. Thus, my total Part D cost for 2025 will be $60.00 unless I get prescribed an antibiotic or some other type of medication. My wife's Aetna Silver Script premium is going up from $9.80/month to $44.80/month and the copays will be much higher for her drugs, so she is going to switch to Wellcare Value Choice.
As long as her wellcare value choice covers her current drugs okay, sounds solid. Run it through medicare.gov if you haven't already ☺️
@@marct9587 I have WellCare Value Choice also!
My dad is in the same situation as your wife and is making the same change
@@marct9587 : I am going with WellCare Value monthly $0 too 👍 Thanks
This video is excellent. Can this possibly be true? I'm on 3 generic tier 1 medications on the 2025 Wellcare Value Script (PDP) that are listed at $0.00 (zero) at preferred pharmacies near me. I understand that there is a $590 deductible for tiers 3-5 but I don't currently take any medications in those tiers. So, assuming my current medications remain the same, how is it that I can sign up for a plan and pay nothing all year?? Can this be true? Why would I keep my 2024 plan where total drug and premium costs for 2025 will be over $700? What is the catch?
You do a top notch job. Thank you.
Thank you so much!!
EXCELLENT video and explanations!!
I've procrastinated in changing my stand alone Part D plan but am doing it today. I no longer take ANY prescription meds so this was a total God deal to find your video tiday🥰
Tyou SO MUCH!!!
So glad you found us! Thank you for watching!
OMG! What a wonderful tutorial
I have been so confused trying to find a new drug plan because my current one has been dropped by the company. This video was just wonderful to help me understand what I was seeing thank you ever so much.
So glad it was helpful! Thank you for watching and your kind comment!
As you said - easy peasy. I laughed a few weeks back when I got the new costs for my existing Part D for 2024 (half year) - an increase of 258%. Um nothankyouverymuch. I don't know how these zero monthly premium plans make any money, but guessing that's because of our totally effed up Big Pharma involvement (as a retired healthcare provider, don't get me started...)
Thanks as always for your assistance. I was waiting for you to weigh in! And hope y'all had a fun road-tripping summer. It was fun to watch.
Yeah... you're not alone on those big increases :(
Road trip was amazing! Only 1 more state Medicare video to post from that, haha! Took a long time to get through those and get them edited. Appreciate you!
Here we were offered a zero plan. It covered all of my drugs so I took it. I think just about everyone that changes (if it covers their drugs) will change to that plan. I wonder if the RX company that offered it is relying on numbers. They might make enough via large numbers of people (many with low cost drugs) signing up for their plan to break even or even make a little.
Don't forget, (CMS, the federal government, your tax dollars) pay insurance companies a monthly amount for each person on a Part D drug plan. So, Wellcare is getting quite a bit of money from tax dollars to offer the $0 plan. (I have that plan as well.)
@@tomm7505excellent point to make because people are looking for the “catch” to a zero premium. This is exactly how they can offer it.
Thank you! I just ran the Medicare drug plan gaunlet for Denver. Simply changed plans with same company and switched pharmacies. Thanks!
Thank you for watching!
Thanks, The Retirement Nerds, for your continued excellence in teaching vital need-to-know information about Medicare!
Appreciate your support David!
@@Theretirementnerds My pleasure.😎
Very helpful tutorial! Thank you. I’ve also taken your advice from previous videos and switched supplemental plans. Now I’ll be saving almost 50% on my 2025 premiums, a much greater amount than the small annual deductible but with all other coverage identical. I call that VERY helpful advice!
So glad it was helpful and you are saving money! 🙂
Thank you for this very informative and very helpful video. I was trying to check before open enrollment to see if my current plan D was still the best for me. Now that open enrollment has started I will check again with the setting you said to use.
So glad it was helpful! Appreciate you tuning in! :)
Thank you for explaining how the $2000 cap works!
Thank you so much for watching!
Even with my state retirement insurance, I am now -2025-obligated to pay a subsidy for my medicare advantage. If I don't enroll I lose the option for good and then must rely on third party options. Our healthcare costs continues to rise, and we get less and less for the care and yet obligated to abide by the USA's very complicated healthcare system. (Reading through a 400 page plan)As a senior, I will not live to see any resolution. Been going on for decades. The healthcare CEO's make 20 million dollars while citizens struggle to find life over death. Just frustrating. But did enjoy your video and helps to understand our complicated mess. Triggers my anger too! lol.
yes while our Govt gives the illegal migrants everything.
Your explanations were on point. 👍 Thanks
Thank you so much!
Thank you for the Medicare information Eddie
Appreciate you Eddie!
This was very helpful, I always wondered about pharmacy on medicare.
I am 68 years old I am still working full time and have insurance thru work. I am currently drawing social security and I have Medicare part A. I'm trying to decide if i should keep my work insurance or apply for part B and get a supplement or advantage plan. What's your advice
Comes down to a math equation between your costs and experience on your company plan vs. the cost and experience on Medicare. My email is erik@theretirementnerds.com if you'd like to go deeper.
@@CindyMcPherson-j1r You should Not get an Advantage plan! Medicare + a Medigap plan is what you want. Many hospitals & doctors aren't taking some Advantage plans. Remember all the Medigap plans no matter the Letter offer the exact same coverage. I have Plan G. Do not let greedy agents steer you towards an Advantage plan. They get big perks/incentives for doing this. So why would they steer you toward Medicare + a Medigap? Cars, vacations & other incentives for Advantage plans, that's why.
Brilliant video, with such helpful, easy to digest information. Thank you.
Thank you so much for watching!
Great job! I learned some things!
Mine Medicare doesn't start until march and I'm new and i haven't pick a part d yet since I'm on SSDI i have lots of medications and Dr visits but blue rx is the only part d that covers my medications and the pharmacy i use
I have part D through my Bluecross/Bluechip Advantgage Plan…Right now my co-pays are high because of Cancer tests, treatments, etc…I need something better…I’m on 9 meds and have about 8 different doctors. What can I do? I live in the 02860 zipcode…I don’t get any help with goverment programs like Medicaid, now what!
Erik - what suggestions to you have for picking a Part D stand alone drug plan if you don’t take any medication on a regular basis. I currently have Aetna SilverScript SmartSaver which has a $5.30 monthly premium. That plan will not be offered in 2025. If I don’t make a change, I will be automatically enrolled in their Choice plan which has a $28.30 monthly premium. Deductible and co-pays have basically doubled for 2025. It’s hard since I have no medications to input for comparison sake.
When you go through this tutorial on Medicare.gov, what is the lowest cost plan available to you? Do you have any of the $0 premium plans in your area? If so, that would be a good option if you don't have medications.
@caroltoot7602 I take no medications either and want the least expensive drug plan
Perfect! Thank you so much! I suppose I should not complain, but as a person that has no drug needs, such 'surprises' with low premium plans are more like booby traps! I'll go have a look now, as my current plan is discontinued for 2025.
Question: Where would you find the formilary to show your doctor to make sure you stay within these medications?
Great 👍 information, Medicare, thank you as always Eddie
Super helpful! Thanks. You helped me better understand drug plans.
I have a good Advantage plan in California. And I have never signed up for Part D as I have not required much in the way of drugs. But when my retirement income increased and the monthly Medicare premium increased, now I have an additional charge of $12 per month for Part D. Is that correct?
Yes, it is. Your advantage plan has a Part D plan included in it, so you are getting the Part D surcharge for having a higher income. If you just had 1 year with the higher than normal income, that extra amount will only last for a year.
Erik - this is one of the most useful videos I’ve seen on any topic. Thank you! So very well done!
Quick question: Let’s assume that someone makes the best choice for themselves based on the low cost drugs they are on. Then, mid-year their doctor prescribes higher cost drugs to handle their worsening condition. Looking at the higher cost drugs, a different plan would be better. Is that person stuck with their current plan until the next open enrollment period?
Take care, my friend. Awesome job!
You are too kind Anthony. Appreciate you!
Yes, that person is stuck in their current plan until the next annual enrollment period unless they have a special election period reason - like they move outside their current plan's coverage area. But, most likely stuck on that plan until the following January.
@@Theretirementnerds Thank you! There are all kinds of risk calculations that we all have to make. Although those choices are hard no matter what, they are made easier by having your great information. Appreciation back at you!
@anthonygardner400 yeah, so hard to try and predict the future. Would hate to get a higher cost plan, pay for it, and never need it. we don't ever make drug plan recommendations like that, but definitely happens.
Thank you for an excellent explanation. Just one question. If I change my drug plan, do I need to cancel my current plan or will that happen automatically when I enroll in the new plan? Thank you!!
Thank you for watching!
You don't need to cancel. By signing up for the new one, it will automatically cancel the old one starting January 1st.
You will still have and use your old one through December 31st.
Your new plan starts January 1st.
@@Theretirementnerds Thank you so much for your quick reply!!
@lavalier18 of course!
My wife and I are currently on Part d plans and use some expensive medications. My wife's plan dropped both of her expensive medications for 2025 plus raised the premium and deductable! There is fortunately at least one plan in our area that covers both.
The cheapest plan for me is one of the low cost ones, but some investigation illustrated that they do not include some higher priced medications that I took in the past.
Is it reasonable to pick a plan with higher premiums on the supposition that their formulary is larger in case other expensive medications are required? I did not find an easy way to get the size of a plan's formulary.
Thanks for the content of this video!
During this open enrollment period, can you do a video regarding difference between "basic" and "enhanced" Part D plans? It is my understanding (from another Medicare You Tuber) that "enhanced" plans will have less TROOP (true out-of-pocket) costs because the TROOP is based on the "standard benefit cost calculation" and with an "enhanced" Part D plan you will have lower ACTUAL out of pocket copays/coinsurance/and 0 deductibles and reach the $2000 cap without actually having incurred the full $2000 cap since it is based on "standard benefit cost". Confusing, isn't it? Need you to explain all the differences between the two different types of Part D plans.
I agree. Many UA-cam videos don’t explain this at all. One who takes high cost drugs may assume to go with cheapest plan assuming she/he has to pay $2,000 out of pocket anyway.
Excellent information and presentation, as always, Erik. I am shocked at the increase of my place holder Part D (I take NO medications) from $9.90 per month in 2024 to $44.90 for 2025! If my math is correct, that is approximately a 453% increase! I will be looking at other plans. What is your interpretation of these across-the-board large increases among many plans/companies for 2025?
Thank you so much!
Yes... you're not alone with those increases :(
Do you have one of the $0 plans available in your area?
This video sort of goes over those thoughts :)
ua-cam.com/video/lS1LJS9tues/v-deo.html
Wait until Medicare starts paying for Ozempic, the magic weight loss drug.
Just turn 67 yesterday. I have kept my weight at 168lb (5'10") for the last 30 years. I have been on Intermittent Fasting for 15 years, basically no calorie intake after dinner until noon time. I put in 5 miles walking on an empty stomach at 5:30am every morning.
None of my friends or neighbors willing to do that.
I try not to think of the fairness issue.
@@Theretirementnerds Yes, sadly, not the "Lone Ranger" on this one. Thanks, Erik. You are appreciated by all who take advantage of your Medicare expertise! God bless!
The Inflation Reduction Act just moved where people pay. They reduced the costs of medications so the carriers recoup that with higher premiums. Thats just how I am seeing it.
Hello, I will turn 65 next January. As of right now, I am not taking any medication at all. Should I pick the part D? Kindly advise. Thank you.
We usually recommend yes. Search to see if there is a $0 plan available in your area and get that. That way, if you ever do need a plan in the future, you don’t have a Part D penalty.
Outstanding explanation thank you!
Thank you so much!
Great video! Even though we are planning on staying on employer insurance for another couple of year I thought I’d check the part D plans out especially because we have family and friends already on them and the possibility we would be forced to switch if employer insurance is considered not credible due to the new out of pocket limits. I was surprised to discover how many drug aren’t on any part D formulary in our area including some generic drugs. I know these drugs were covered last year because I know people taking them and getting them through the part D plans. I’ve had to remind some family and friends to double check this year because they’re used to just letting the plans roll over. There was a lot of eye rolling but they’re doing it.😂
PS. You forgot the magic word.
Thank you for checking it out! Yes... people need to be reviewing this year. A LOT of changes out there. And left out the magic word for this one :) Have a lot of partners who want to use this video on their own communications, so kept it a bit more professional :)
@@TheretirementnerdsI also want to use this in communications with my clients. Your work is amazing, admirable, inspiring, etc. What does it take to partner with you? What would you need or want from me to get your blessing?
@@adamniederklein6965 you are too kind. My email is erik@theretirementnerds.com
Send me a message and we can chat
Thankfully I am not taking any medications. So, what plan do I choose here? Is there a way to state this and avoid paying a premium that I do not need? For the record I have plan G for 2024. Thank you.
Thanks for asking this question! I'm in the same situation (although with Plan N). It's really disappointing ... ok, infuriating!, to HAVE to pay a premium for drugs when you don't take any prescription medications OR face premium penalties later if you don't sign up when first Medicare eligible. The penalty can add up quite a bit if one delays getting a Plan D; and, the penalties never go away as long as you have a coverage plan! It really seems like a strong-arm-robbery.
If one signs up for one of the "no cost"(no premium) plans, will it qualify under the regulations to avoid the penalties? Will it actually provide decent coverage for the most common prescription medications? How can you know what type and amounts of actual coverages are in each of those plans? There are so many questions.
I do appreciate the video and am equally thankful for the helpful information given.
Thank so much...great video!
Thank you!
Wow. That's more expensive than I thought it would be... At least, that process was pretty simple and straightforward! LOL.
For most, fixed costs through premiums are going up in 2025.
For some, they will stay the same or could go down :)
Medications make a big difference :)
Appreciate you watching!
@@Theretirementnerds I'm just on a couple of low cost generics and intend to keep it that way 😂
@@ph5915 very wise!
My wife Part D plan went up by almost $30. She is not on any prescribed medications. My drug plan does not have any premium costs. Should I just change her over to my same plan because we know there are covered pharmacies in our catchment area? By the way, just love your videos.
IF she isn't taking any medications, I'd switch her to the $0/mo. Wellcare plan. My spouse starts Medicare in April 2025 and takes no medications as well. That's the plan he'll be signing up for as well -- just to have drug coverage.
Yes, what Tom said. If she isn't taking medications, get the lowest cost plan possible.
Thank you for watching and your kind words!
Trying to figure out the new plans for 2025. I take 5 meds, one tier 2, the rest tier 1. So total monthly premium $0.00 should be the best for me? After I pay the deductible?
Thanks, Great Help .
Thank you for watching!
I've used the tool, and there's something I don't understand. I've got some high cost drugs in there, and I know I'll hit the $2,000 cap. Yet I'm presented with plans that show me hitting the cap in mid year, but the total yearly cost is less than $2,000. How is that possible? Are there some nuances to the $2,000 cap that I just don't understand?
I've since learned that the $2,000 cap isn't quite straight forward. The $2,000 Out of Pocket isn't always what the customer pays. It's based on the Medicare defined standard costs, which isn't explained anywhere in the Medicare information.
My understanding, each Part D plan falls under one of the two Drug Benefit Category, Basic or Enhanced. With Basic, $2,000 Max out of packet is applicable. With Enhanced, calculations are complicated and could very well be less than $2,000 for certain plans that have $0 deductible and fixed $ copay (vs % co-insurance, i.e. 25%) for higher cost drugs.
Thank you for this information. My dad got his renewal from Aetna Silver Script, and his rate increased 660%. I think that is terrible for a person that is taking one prescription (tier 1). Using your information, I will be able to find a plan that is a much better option.
Yes! Definitely check for lower-cost plans! If he's just on 1 generic, should be able to find a much lower cost plan :)
Well done
Do you have to cancel the plan you are dropping or is that done automatically when you sign up for new plan ? - thank you
Automatically done for you when picking a new plan.
Your old plan is active through December 31st, 2024. New plan starts January 1st, 2025
Thank you - you are doing awesome work for Medicare recipients - and your vacation looked fantastic
@@michalsmith4668 appreciate you saying that! It was definitely a work trip ☺️ and it was incredible!
Automatically
Thanks for the video. I want to keep working and work to the State of Illinois. How do I know if my state insurance follows Medicare rules and guidelines, so I don't have to use Medicare yet?
Very helpful video for someone going thru this for the first time. You don't mention looking for the qualifiers, like pre-authorizations (PA) or Quantity Limits (QL). How different are those between plans?
I wonder if silver script prescription plan is over all good.
Great video thanks!☺
Very helpful video…. For realzees!
Haha! You caught that... :)
Great info
Thank you!
I have an med account. I did not initially sign up for med d. Does the price shown, include the penalty? I am currently not taking any meds, so not sure how to compare plans
Thank you.
Appreciate you watching!
Who can help my boyfriend with his medication list?? I don’t understand the names or milligrams. Where do he go for help? He was just diagnosed with throat cancer and needs tier 4 meds, Chemo, Radiation….Not sure he can get generic meds or not…He needs help!
What if you start on one plan but in the middle of the year you need to start taking a med that isn't covered? Are you forced to pay out of pocket?
You'd need to wait until the next annual enrollment period to make a change. Or, if you have a special election period, like you move outside your existing plan's coverage area.
Got it. Thanks!
My wife encountered this. The insurance company went ahead and covered the initial 30 day fill, but informed her that they would not cover any refills, and provided a list of alternative drugs that they do cover. She will take the list of alternative drugs to her doctor to get a prescription for one of the alternative drugs that is covered by her prescription plan. The company said that she could apply for an exception.
I think this is what you implied but I would like to confirm: If someone is in a drug plan for 2024 and enrolls in a different plan for 2025, will they be AUTOMATICALLY un-enrolled from their current plan, or will they have to un-enroll themselves?
Correct. By signing up for a new one, it'll cancel your previous plan at the new year.
@@Theretirementnerds Thanks.
Some plans have a deductible and some don’t. Does sorting by lowest drug cost and premiums still give you the lowest overall cost or do you have to add the deductible to the cost presented to get your true cost?
Sorting with lowest drug cost and premiums will still get you the lowest overall cost. It's looking at your medications and factoring in any premiums, deductibles, and copays/coinsurance :)
Can you shop at two different in-network pharmacies for your meds? On my list of yearly cost of drugs, the two Tier 4 drugs are cheaper at the local family pharmacy by $250; however, all the Tier 1 drugs are cheaper at CVS. (Though I did hear you say costs can vary through the year.)
@@dianedimidio7353 I have never had any issue using multiple pharmacies during the year. Just be sure that both pharmacies are "in-network" and "preferred" to get the best prices.
@@dianedimidio7353YES you definitely can. It is a good way to get your overall cost lower than the Medicare calculated cost. A little less convenient but if the cost saving is worth it to you, Do It.
I would probably contact the plan provider and ask them the same question.
Okay I have Anthem blue cross and blue shield advantage plan and I’ve already spoke to Anthem and my doctor and they both said that everything is going to be the same for me. Your thoughts??
This video is for standalone drug plans, not advantage plans. This one is a tutorial for those not on an Advantage plan. Hopefully that clears it up a bit.
Question - do all prescription drug plans follow the same tier level for a given prescription? I ask because if not then I don’t think the total premium and drug costs are accurate but I may be wrong in my assumption. Thanks!
No they do not. Each company has their own formulary list and tiers, and costs for the same tier can vary between plans.
@@SpynCycle57 Thanks!
You are good, very good!!!!
Thank you for watching! ☺️
My retirement plan has dropped Silver Script coverage. I need to select a Part D drug plan. Currently I am on a generic low dose pain med (oxycodone 10mg), filled thru Giant.
Is that a Tier 3 med and do any of the plans permit it? Or are they going to deny me & throw my life & body into a tailspin?
What does formulary mean?
The formulary is the full list of drugs that a company agrees to cover in some way.
If the drug is not on the formulary for that company's drug plan, they don't cover it for you.
THANK YOU!!!😀😃😄
Of course! Thank you for watching!!
help me figure out how to sign up for a plan when i don't yet have my permanent address. I bought an RV and have been traveling. I use my in-laws address as a mailing address Texas) but i am currently traveling and in (Las Vegas) until year end. Hitting all the national parks on my way to Colorado. I will settle down somewhere by September. What can I do?
Medicare kicks in January 2025
What happen in December 8th ? Does the window for change plan is close?
Correct. It closes December 8th for those currently on Medicare. Not those who are starting Medicare now.
If you don't have any high cost medications to add how do you assess a plan's formulary? The formulary seems to be the biggest driver of cost passed to the customer. I'm looking for the best zero/low cost plan and have no current medications, but want to choose wisely in case this changes. I tried adding in the drugs mentioned in the video, but they default to the high cost plans with the best formulary.
I assume that the "high cost" plans you refer to are the ones with higher monthly premiums. When the tool does that, it is showing you the plans that would be the lowest total cost, drugs & premiums combined. You can still show the details for the zero premium plans to see the cost for the drugs you added.
I keep seeing commercials for a grocery card. Is there anything to that without being on Medicare/Medicaid ?
There are many Dual Eligible (Medicare/Medicaid) plans that have something like that grocery benefit.
@@riley6740 I can say the extras are only for those on Advantage Plans.....Supplemental Plans get nothing extra.
I was surprised that it seems like all of the available plans have changed their Tier 3 copays from a fixed price ($11 for my Wellcare Value Script plan) to a 25% copay...which for an expensive drug is a *huge* difference! Do you know what happened that this change happened?
I am currently on $9.80mth on silver script SMART SAVER PDP for 2024.
I missed the enrollment period and just found out that Aetna changed that plan to
silver script CHOICE pdp $44mth.
What are my options - this 400% increase is daylight robbery.
medicare support tell me that if i don't stay in this ripping of plan, i will have to pay late enrollment penalty which i have to pay for rest of my life - lifetime never ending penalty .
what are my choices? i am generally very health and i was thinking of opting out but medicare support say it's not worth it to drop out of this plan. what are my choices
Hi Eddie, forgive me but in the examples you showed it looks like the second drug plan is the better choice if you use a mail order pharmacy?
Correct! Mail order calculations work a bit differently. In the first example, you are correct.
For the lowest overall cost plan, the default is to show retail pharmacy costs! Yet another thing to keep in mind through all this!
@@Theretirementnerds Thank you for answering Eddie, this makes sense.
Best time you, Brett
If mail order is chosen, what happens if you need a different medication like an antibiotic that needs to be taken right away?
Thanks, Erik! Very helpful… but miss the secret word😊
Haha! Totally!
A lot of partners use this video, so had to keep this one a little more buttoned up 😊
Hey i 65 activity working do i need register to Medicare ?
Probably not... this video goes over that in detail around whether you need to or not:
ua-cam.com/video/L2goGwp4Co8/v-deo.html
YES!!! You need to sign up for Part A (no charge) or when you sign up for Part B, you will be paying extra on the premiums for life! People then go on Part B when they leave their job and/ or no longer have any medical insurance. Please call Medicare! My Uncle refused to do so and then paid the penalty fees for life.
When you enroll in a new Part D plan on the Medicare site, does it automatically cancel the old plan?
Yes, the new plan would start January 1st. Your old plan would cancel.
😊love your work 🦏🦛
Thank you so much! ☺
Good Rx seems always cheaper than my Aetna part d. 😊
I'm looking for a PDP that covers the drug CERDELGA.
The Medicare website tool should help with that. If a drug you list isn't covered, the comparison tool will show that.
How can a O premium drug cost save you money,when the deductible is over $500. I don't spend near that much every year for drugs, so how does that help me
Most drug plans cover tier 1 and tier 2 drugs before the deductible
Does the $590 deductible figure in the "total drug and premium cost" or do you have to add it to get the real cost?
It factors in
Just so I am clear, only the drugs listed in your drug list are covered? What about random "I am sick" prescriptions i.e. antibiotics, some sort of rash cream, whatever. None of those are covered because they are not on "the list"?? That seems insane. Regular employment insurance pays for whatever you come into the pharmacy for. So what price point does one have to pay if it isn't "on the list"???
The list of drugs that you enter, at the Medicare site, are used to calculate the yearly cost of each plan. During the year you are never limited to the list. The list that you should be concerned with is the insurance company formulary list, which says which drugs the company covers and which tier they are on. The tier determines your cost for the drug. The random "I am sick" drugs can still be covered by the prescription plan, and usually are covered, as long as they are commonly prescribed drugs, but each company has a different formulary list.
One of my medication is not even listed there ?
I have same problem and get those not covered through Genscripts and Good RX.
What happens if I signed up for a stand alone part D for the very first time to comply with the Medicare rules and the following year I cancel the plan. What will Medicare do???
Nothing. But if you try to get a Part D plan later, you'd be penalized.
My concern was answered. Thx for the reply and GREAT content👍
@@onoone58 To avoid any penalty in the future, just sign up for a zero premium plan. You can always switch to a different plan in future years during the AEP.
@@SpynCycle57 Yup I did exactly that on the 15th. Thx for the heads up
@@SpynCycle57 Are you talking Part D? I am not even on any prescriptions, and now they raised it from $9.10 to $44 per month. I didn't know there is an option for a zero premium plan. Is that available for Original Medicare? Sorry I should be asking the video guy!
✓✓✓✓✓✓✓✓✓ If he is talking too fast for you, you can set the playback speed at a slower rate. Just click on the video to display the Settings icon (it looks like a gear wheel) in the upper right of the video, then click on playback speed, then click on .75x. It will slow down the video to 75% of the normal speed.
Thank you! 🙂
@@Theretirementnerds Then you sound drunk LOL. It's true but I am just kidding. I didn't think of slowing the speed down.
@@laurie6332 😀
@laurie6332 haha! But hopefully a smart drunk 🥴
I use subtitles. If he's going too fast I just pause the video and read the subs until i understand what he's saying and the point he's trying to make.
How does this work if you do not turn 65 until march 2025. Do you enroll for Medicare now or in December?
@BettyMullins you would start the enrollment process in December or January to have Medicare start March 1st.
All❤👍👍👍👍👍👍👍👍
I thought well care ends january1
Who pays broker
Insurance companies via commissions. Many have stopped paying for drug plans.
You have excellent information. It would be helpful if you could speak a bit slower. Everything you say is important and, we miss some of it due to the tempo.
Thank you for watching and the feedback! Trying to work on that
Do you have a link to the 2025 Wellcare formulary? All I can find is updated 2024 formulary info.
Also, Tiers 1-2 have no deductible, but new in 2025 is the deductible kicking in for tier 3. And I think that one should see if POTENTIAL drugs in the same category as their current drug list are covered. Old bodies just keep getting older and needing more expensive meds and our docs aren't likely to wait for the Medicare Part D enrollment period to prescribe more costly drugs.
I'm going to change this to lowest monthly premium immediately followed by "PLEASE DON'T EVER DO THIS"
I understand the reasoning behind this, but still funny.
Haha... ya... now everyone is going to try it
Yes way to fast!!!
Super fast, and he said he was slowed down in this video LOL. I had to watch, pause, back up, watch, pause, back up.
Wow. So helpful! Thank you.
Thank you for watching!
If my drug is not in formulary of my Medicare advantage plan. I was told by the licensed agent to have the prescribing doctor ask the insurance company to add the particular drug to their formulary. Does that really work?
You can try. Can't promise results on that though.
Didn't work for me.
I thought he said he was going to talk slower
👏🏼🤩👏🏼🤩👏🏼