Part D Prescription Medicare Drug Plans
Mike explains the donut hole and Part D.
In this short video Mike explains how to find help paying for part D prescriptions.
Medicare prescription drug plans, also known as Part D, are designed to help people with Medicare afford their prescription medications. These plans are offered by private insurance companies approved by Medicare. If you have Original Medicare (Part A and Part B), you can enroll in a stand-alone Part D plan. If you have Medicare Advantage (Part C) you may choose a plan that includes prescription drug coverage. Medicare prescription drug plans have four phases: Deductible, Co-payment, Coverage Gap, and Catastrophic. These phases are like riding a roller coaster, so it is important to understand your coverage. It’s essential to choose a plan that covers your specific medications and pharmacies to ensure you get the most cost-effective and convenient coverage for your prescription needs.
When considering a Medicare Part D plan, it’s crucial to evaluate the list of covered drugs, known as the formulary, to make sure your medications are included. Additionally, understanding the plan’s cost-sharing structure, including copays, coinsurance, and any coverage gaps (the infamous “donut hole”), will help you manage your out-of-pocket expenses. It’s wise to review and compare different Part D plans annually during the open enrollment period, as plan details and your medication needs may change, ensuring you have the most suitable and cost-effective coverage for the year ahead.
Contact us for more information or to schedule an appointment.
What Our Customers Say
Nazar Vakil
2024-11-08
My wife and I met with Mr Bauer recently. We have Medicare for a few years. We just wanted to see if we could get a better plan. We visited Mr. Bauer, based on very high recommendations from our friends who have him as their agent.
Mr. Bauer reviewed our plan including premiums and advised us Not to change it as it will be very difficult to get a better one.
He had our interest in mind, not his. He also gave us some tips on our Drug plan which will save us a few $.Highly recommended
Lela Stiff
2024-11-04
Mike was so helpful in getting me signed up with my Medicare and supplemental insurance needs. Mike knows his stuff !! With his knowledge he made it so easy for me. I would highly recommend his services to anyone!
Lela Stiff
Elaine Ritchie
2024-11-02
Mike Bauer is the best!!! Extremely helpful, knowledgeable, and understanding.
Bobbie Jessie
2024-11-01
Mike and I met about three years ago, he’s caring, informative and professional. The most important characteristic to a senior is that he listens.
Charles Gabriel
2024-10-30
My wife and I met with Mike Bauer this afternoon (10/29/2024) for a scheduled annual review on our Medicare Supplemental Insurance and Prescription Drug Plans. Mike is an extremely kind, patient and professional individual who represents his client base and organization extremely well. During our review, he took the time to present and explain the overall background of our focused plans and all aspects of any planned or implemented changes. He presented the pros and cons of our plans and potential alternatives considering costs and levels of effective coverage. Overall we were very satisfied with the review and timeliness of the review.
Carol Bookout
2024-10-28
Mike Bauer has greatly helped my husband and I navigate the Medicare supplement and RX system. He often has suggested choices that help us financially but end up costing him money in the end. I highly recommend him!!
Havan Furmaga
2024-10-15
I agreed with the reviews here. Mike is very friendly, patient and knowledgeable. He spent A LOT of time helping me search for the best Medicare Advantage plans that fit my parents' needs. He compared multiple plans (Devoted, United Health, WellPoint, Humana, etc) then went over the details (deductible, co-pay, prescription costs, etc) of each plan so I can make the best decision. He is very personal and treats his customers with great respect. Highly recommended!
Jesse D
2024-10-07
Mike helped my mom choose a medicare plan for her needs. I would highly recommend him.
Julie Augustyn
2024-08-17
Mike was incredibly accommodating with my schedule and absolutely amazing at navigating through all the options. I am enormously relieved to have a health insurance plan in place!
Wendy Baker
2024-06-27
Mike Bauer was very thorough, knowledgeable, straight forward, and it was a quick and easy process to sign up for medical insurance. I am the second family member to use this company due to the success we had from a sign up last fall. I would recommend his services and will use again in the future if another need arises.