MEDICARE PART D: PRESCRIPTION DRUG INSURANCE

Plan Finder Comparison Tool

Conduct your own online comparison of Prescription Drug Plan formulary coverage. Find the Drug Plan Finder at http://www.medicare.gov/ and click on Compare Medicare Prescription Drug Plans.  If you are currently enrolled in Medicare (or will soon qualify for enrollment), investigate your options for coverage under Medicare Part D Prescription Drug Insurance.  Follow the online steps OR write in the information requested on the Plan Finder Worksheet > (pdf) to prepare to have a Medicare partner volunteer assist you. Compare at least three plans for your Medicare prescription drug insurance.

Steps outlined online are as follows:

•  Select a search option
a. Personalized search (enter information found on your Medicare card)
b. General Search (no Medicare card needed)

•  Enter the requested information
Give zip code, current prescription drug coverage, and other health insurance coverage.

•  Review current coverage and consider options
Do you need to add a stand-alone prescription drug plan or coverage as part of a Medicare Advantage Plan? (See two types of plans)

•  Enter your drug information
Take advantage of this new option to save your list of drugs instead of re-entering them every time you use the Drug Plan Finder. Enter a date and then print out the code number assigned to that date for your future use.

Enter the name of the drug in the box or try to find the name of the drug alphabetically. After all prescription drugs are entered. Make changes in the dosage (number or amount used within a 30-day period) as necessary. Use the drop down menu for the amount per dose and/or highlight and change the number of doses.

Using generic rather than brand name drugs when they are available, will always lower the price of your medications. Generics are acceptable substitutes for name brand medications; check with your doctor.

•  Select Pharmacy
You are not required to select a pharmacy but two is the maximum number you can select. Whether or not a specific pharmacy covers the plan your choose will be very important to you if you have to travel several miles to a pharmacy or if you prefer to continue doing business with a particular pharmacy.

•  Compare plans
Plans are arranged with the lowest estimated cost plan listed first. Check the boxes to the left of the three lowest cost plans for side-by-side comparison of plans , then click on the Compare Plans bar at the top of the list. You are provided with:

Cost Summary — for annual cost, monthly premium, annual deductible, and initial coverage limit.
Your Monthly Drug Costs after you have met your deductible but before your total drug costs reach the Initial Coverage Limit
Pharmacy & Mail Order Information
Drug Cost Information (Brand or Generic & Tiers)
Full Cost of Drugs (the discounted cost of drug offered by plan)

•  Check details on the three plans
Click on the More Information bar for a drop-down menu on each of the plans. Select one of the following and hit the “Go” button:

View Plan Drug Details – details fixed costs; annual drug costs; drug restrictions [hotlink to Drug Restrictions] ; pharmacy vs. mail-order costs; full monthly cost of drug compared with costs of drug in initial drug coverage level, through the gap and into the c atastrophic level; and bar graph of costs [hotlink to Bar Graphs of Monthly Costs] at the pharmacy.

View Important Notes – specifies use and limitations of plan network; plan availability in other parts of the U.S.

Lower my Cost Share – provides ways to further lower drug cost share that you pay.

8. Contact your local insurance agent or plan representative
After studying plan details, get in touch with the plan representative to answer any questions you may have; determine if they will respond to your information needs.

You should now be more prepared to make an educated choice of the best plan to meet your personal prescription drug insurance needs! Proceed to enrollment if you have made your decision.

More Information

Important Dates
Get Help
Already Enrolled or Not Taking Prescription Drugs
Getting ‘Extra Help' — qualifications & application
Keeping Your ‘Extra Help'
Two Types of Prescription Drugs Plans
Personalized Prescription Drug Insurance Coverage
Plan Finder Comparison Tool
Plan Restrictions
Bar Graphs of Monthly Costs
Payment of Premiums
Enrollment — with and without penalty
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