Seniors Facing Higher Medicare Drug Premiums & Copays

A Sarasota HeraldTribune (Associated Press) article explains that the 2016 Medicare Prescription Drug plans premiums are increasing. In many cases so are the deductibles, copays, and coinsurance amounts that seniors have to pay.

The article goes on to say that it can really pay to shop Part D plans. You could end up saving a significant amount of money, depending on the drugs you take and on your individual circumstances. However one plan doesn’t fit all. 

To determine which Part D plan is best for you, calculate not only the total amount for premiums, but also add in any deductible, as well as copays and coinsurances for all your particular prescriptions. Lastly, be sure to check to verify all your drugs are still in the formulary (list of covered drugs in your plan) as they can change from year to year. If your drugs are not in the formulary, they are generally not covered at all!

To read the entire Sarasota HeraldTribune (Associated Press) article, click on the web link below:


Related AARP Bulletin Article by Patrica Barry.  (November 2015):

Save Money on Medicare in 2016

Note: Medicare Insurance information can be overwhelming and confusing to many people. As an independent licensed agent I can explain things to you in simple terms so you feel comfortable making a decision. Then I can help you choose and enroll in a plan that you feel fits your needs.

By the way, it doesn’t cost you any more if you enroll in a Medicare Insurance plan through me as an independent agent versus directly with an insurance company either over the phone or via the Internet, since I get paid by the insurance companies for your enrollment. Plus you will have personalized service by a local agent. If you would like my assistance, please call me at 941-404-5334.

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