Finding the best Part D Drug Plan (2022 update)

The government medicare website is always changing and today we're going to walk through how to find the best medicare part d prescription drug plan for 2022 using the plan finder tool so stay tuned so we're going to start out here on the government medicare website.

And it shows you here that open enrollment starts october 15th so the annual election period for medicare is between october 15th and december 7th each year and this is the time that you can change your medicare part d drug plan also you can change your medicare advantage plan if you'd like to.

And any plan changes you make in this time frame will go into effect on january 1st of the following year so right here is where you can preview the 2022 prescription drug plans if you still need a part d drug plan for 2021 or you want to see plan options for 2021 you can click down here on the.

Need 2021 plan so when we click on preview 2022 health and drug plans it takes us to this page you can log in or create an account if you have one i'm going to continue without logging in today and for today i want to learn about part d prescription drug plan so that's what we're going to search we're going to go.

Ahead and enter in our zip code i'm going to enter in our zip code here and shows you your county if you get any extra help you can click on one of these i'm going to say i don't get any help from these programs for today's search and yes you always do want to see.

Drug costs when you're comparing plans if you're taking prescriptions you want to plug those in here so you're going to go ahead and type in your drugs i'm going to enter into some really common prescriptions and then it should pop right up here i'll add the drug i'll select my.

Dosage and then i'll add another drug then i'm going to go down and click that i'm done adding drugs i'm going to look at the different pharmacies near me i can select several i'll choose the ones i use most frequently.

And then click done and then i'm going to see all of the 2022 plans sorted by lowest drug and premium cost so this is what you want to sort by what this does is it adds up the monthly premium of the prescription drug plan it adds up all of the co-pays and co-insurance or.

Any amount you may have to pay into your plan's deductible it adds it all together for the full calendar year and it lets you know which plan is going to give you the lowest out of pocket spending overall and that's how it organizes the plan this number right here shows you your total annual cost this includes the.

Monthly premium which is right here that's what you pay every month just to be enrolled in the plan as well as the cost of all of your prescriptions together now you can see that this plan does have a 480 drug deductible that is the standard part d drug deductible for 2022.

And it's important to keep in mind that many medications are not going to be subject to that deductible so on most part d drug plans your drug deductible only applies to medications that are tiers three four or five so if you're taking a lower tier generic like a tier one or a tier two usually that'll have a zero dollar deductible so this.

Deductible that you see you don't want to be afraid of it if you're only taking generics right because you may never meet it your generics typically will have a zero dollar deductible so let's see how that plays out and now this is the number total yearly drug and premium costs that we're ranking these plans by um so you.

Can see this one you know it's a little bit more this one's a little bit more this one's a little bit more so i'm going to go back up to my you know total lowest plan and i'm going to click on plan details to see more about how this plan covers my specific drugs.

And here it's going to show you so here's your estimated drug costs for the year plus you're going to have to pay this premium every month so it shows you again total monthly premium drug deductible here which again only applies to tiers 3 4 5 higher tier brand name medications and it shows you that these two.

Pharmacies that you selected are actually preferred in network pharmacies meaning that your prescription drug costs will be lower at a preferred pharmacy than a standard pharmacy or a non-network pharmacy if i look here i can see the drug costs are actually the same whether i go to cvs or walmart so it's the same on either and then it.

Shows me what my estimated drug costs are each month at each pharmacy and then here what you'll want to do is click on the pharmacy let's say i like cvs i'm going to click on this and it's going to show me the cost breakdown per medication now it shows me the cost before the.

Deductible after the deductible cost in the coverage gap and after the coverage gap now the coverage gap is also known as the donut hole most people will never have to worry about this if you are taking higher cost brand name medications then you may.

Fall into the coverage gap and you would see that here on your search but for today's purposes we don't need to pay attention to these numbers we're just going to look at these costs and you can see since these medications are let's see if i scroll down i can click this and see which tiers these.

Medications fall under they're all tier one meaning that they have a zero dollar drug deductible that 480 drug deductible does not apply to these every month these each cost me one dollar at cvs or walmart my monthly total is four dollars a month and you can see that on this plan if i'm.

Taking a tier one it's a one dollar copay if i'm taking a tier two it goes up to nineteen dollars if i'm taking tier three it's higher and then i have to pay for tiers four and five a percentage of the cost of the drug so this will tell you if there's quantity limits this will tell you if you need prior.

Authorization for any of your medications and then this tells you the star rating coming soon because they don't have the 2022 star ratings out yet if this were me i would go ahead and enroll in this drug plan because it's going to have my total overall lowest cost for the year and once it hits october 15th you can go.

Ahead and click on the enroll button it's a very simple application to enroll online it just asks you your name your medicare number how do you want to pay for this plan some basic contact information and then you can go ahead and get signed up so i hope this very brief video helped you today to navigate the government medicare website when it.

Comes to finding the best part d drug plan for 2022 we also have resources on our website that i will link below at the website and that is our broker-assisted website that has all of the part d drug plans that we work with and it's a little bit.

Different i think it's a little bit easier to navigate than the government medicare site but if you want to check that out as well i'm going to link that in the video description below and thank you so much for watching and we'll see you soon you.


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