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Medicare Tutorial #2: Don't Lose Money Picking the Wrong Medicare Provider for Your Prescriptions

Medicare.gov is a powerful tool that can help you find the Medicare plans that fit your situation best. Often the largest out-of-pocket expense for Medicare beneficiaries is their Prescription Drugs. Do a little research on this, talk to your pharmacist and find out which of your drugs is the most expensive out-of-pocket, also ask which of your drugs you should check for coverage. Not every plan covers every drug, and annually plans drop and add drugs to their drug coverage (formulary).

is a powerful tool that can help you find the Medicare plans that fit your situation best. Often the largest out-of-pocket expense for Medicare beneficiaries is their Prescription Drugs. Do a little research on this, talk to your pharmacist and find out which of your drugs is the most expensive out-of-pocket, also ask which of your drugs you should check for coverage. Not every plan covers every drug, and annually plans drop and add drugs to their drug coverage (formulary).

The Medicare Website allows you to enter 25 drugs to compare plans, so make sure you know which of the drugs you take you need to enter to find the plan the covers your expensive pills rather than just your cheap drugs.

Know the Drugs:

  • Dosage
  • Amount of medication per refill (Number of pills or days)

Here is a short video explaining to enter the list of the drugs you take on a regular basis.

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