Medicare Open Enrollment: Importance of Part D
During Medicare's open enrollment period, which runs until December 7, it's crucial to carefully review your prescription drug coverage plan, or Part D.
The lowest premium for Part D might not necessarily save you the most money, as copays and other factors can significantly impact your overall costs.
- Insurers adjust copays, premiums, and formularies (the list of covered medications) annually.
- Preferred pharmacies and in-network providers can also change.
- Medications may be grouped and priced differently.
Make sure you take copays into consideration and do the math.
Author's summary: Review Part D carefully during open enrollment.