full time RVer needs advice on choice of Medicare Insurance

[Kirk W]

All part D plans have a formulary list. A tiered formulary divides drugs into groups based mostly on cost. A plan's formulary might have three, four or even five tiers. Each plan decides which drugs on its formulary go into which tiers. In general, the lowest-tier drugs are the lowest cost. 

[k4rs]

I was shocked when I learned that my Mutual of Omaha Part D plan premium was going up by almost 300% in 2023.  I started looking at other plans and thought I had found a suitable replacement.  After talking it over with my insurance agent, I discovered that one of my (expensive) medications was not covered on that plan.  It turns out that Mutual of Omaha has a new plan that fits my needs well.  It covers all of my medications and has a lower premium than I am currently paying.  

The frustrating thing is the conflicting information that makes it difficult to accurately compare plans.  Fortunately, the advice of a professional was able to prevent me from making en expensive mistake.

Safe Travels...

[Kirk W]

18 minutes ago, k4rs said:

The frustrating thing is the conflicting information that makes it difficult to accurately compare plans. 

The entire Medicare plan mix is so large and complicated that it can become alomst impossible for most of us who depend on it to be sure that we make the right choices and it doesn't get easier with increasing age. We are very fortunate in that my former employer has councelors available with access to all sorts of computer programs and data to help us through the process each year, and they provide us with an HRA to pay premiums and /or out of pocket costs. There are many services that do help folks at no cost but most of them (if not all) are actually insurance brokers who help but only consider plans that pay them a commission. This year we changed our part D from Silverscript to Well Care for similar reasons to yours. Our retiree department also sends us a reminder each September that we should start to examine our coverages and costs to see if we need to review with the councilors when open enrollment begins. 

[k4rs]

On 10/20/2022 at 2:03 PM, docj said:

When comparing Part D plans this year, it should be noted that a recent change in federal law will require all plans to price a month's worth of insulin at <$35 regardless of deductibles, etc.  Because this change occurred just a few weeks ago, the comparison data available online doesn't yet reflect the change.  So it's a bit more complex to compare plans this year.

I have just learned that the new law does not apply to all insulin

"Plans can’t charge you more than $35 for a one-month supply of each Medicare Part D-covered insulin you take, and can’t charge you a deductible for insulin."

https://www.medicare.gov/coverage/insulin

"Most Medicare drug plans (Medicare drug plans and Medicare Advantage Plans with prescription drug coverage) have their own list of what drugs are covered, called a formulary.  

The formulary might not include your specific drug. However, in most cases, a similar drug should be available."

https://www.medicare.gov/drug-coverage-part-d/what-medicare-part-d-drug-plans-cover

As an example, according to GoodRx,  Lantus (a widely used insulin) is covered by 79% of medicare prescription plans.  If you take this drug, be sure you do not choose one of the other 21% that do not cover it.

https://www.goodrx.com/lantus/medicare-coverage

Safe Travels...