Medicare Part D Explained | (And How To Avoid The Donut Hole)

Confused by Medicare Part D? You're not alone. In this video, I'm breaking down exactly how Medicare Part D Prescription Drug Plans work, including the 4 Phases of Part D coverage, the "Donut Hole" or Coverage Gap and how you may be able to avoid it, and how to find the best Part D Plan to cover YOUR specific medications.
As an independent Medicare broker, we do Part D searches and annual policy reviews for all of our Medicare Supplement and Medicare Advantage Clients. If you have any questions, give me a call - our service is always 100% FREE of charge. [phone]

[km-bozx]

My wife and I will be new to Medicare, in 2021. Both of us are active and healthy, and neither of us take medication. She’s of the mind to NOT sign up for Part D, where I believe we should sign up for the cheapest plan available, as a placeholder for the future. Thoughts? Thanks, dave

[majorpayne]

those lawmakers should have to wade thru this obstacle course and deal with it every year as we have to. they should also have same coverage deductibles etc as we do.

[timisaac]

The big thing to me is other people have gone through and just shrug their shoulders and accept it- No one ever told me. And I listen to everyone that wants to talk. I am very grateful of your videos and the easy to understand materials you present. It is really alot to take it but you have a real skill to teach people. May the force be with you.

[padellina]

Good informative video, thank you! Having been on Medicare for a few years now, the most important message you’ve given is that WE HAVE TO REVIEW OUR PLAN(S) EVERY YEAR.

In the beginning, I did a thorough research of Part D plans and picked one. Good split what I paid and what insurance did. And so I kept the plan year in and year out. What I didn’t notice was that the next year, they raised the copayment limit. Now the market price of my copayment was all within that copayment. So, in 2021 I will have spent $1, 600 of my money on my medications, while the insurance will have paid $0. And the premium will still have cost me over $400 for the year.

So clearly, yearly review is a must. I am doing it now - and what I am finding is that ALL PLANS ACTUALLY SUCK. So much information (for insurers, it’s a game) and so many variations of the same: YOU (patient) pay as much as spossible and WE (insurer) pay as little as possible, preferably nothing.

Like all health insurance in America, it’s a scam!

[Asdfghjkl]

Exceptionally and clearly presented. Thanks very much for posting.

[kiritpatel]

THANK u for detailed explanation about tier 1, 2 3 and 4 , when deductible starts in easy, simple words which we understand properly..

[annalyncastro]

As a new agent, this is very clear to me. Thank you so much Stephanie. Bless your heart for sharing your knowledge.

[denniswhite]

Another excellent presentation/explanation and Stephanie is pretty easy on the eyes!

[LadyMaryanne]

Wonderfully detailed information and great visuals. Thank you🦋

[tomordr]

Your videos are so helpful. Thank you!

[randyc]

I take 2 inhalers, Symbicort and Spiriva. After a $400 deductible, I am in the do-nut hole by June. I get my name brand inhalers from a Canadian pharmacy and pay less than my cost from my insurance before the do-nut hole. They come from foreign countries but are made by the same companies as the original but will have a foreign language on them.

[khaledamin]

Hello, Please continue to post such an informative and creative videos. Therefore, people like us will be motivated and learn in real life.

[pinchermartyn]

Why is this whole insurance thing so complicated. Is it done on purpose? To confuse. I think so.

[davinayoumagul]

Thank you Stephanie take care stay safe and stay healthy

[ler]

Yup, I retired after 40+ years in HR & Benefits/ Mgt., I was confused by Part D reg's when I retired w/Medicare years ago. There were very few resources like on the internet or YouTube to help at the time.

[lcg]

You are a Godsend Stephanie! Deeply appreciate all the "gaps" 🤗of knowledge that I have been missing in the process of signing up for Medicare B, D, G....etc. Our situation was and still is complicated, but your many teaching-based videos that I have been watching for a few hours now have alleviated a lot of stress I have every day as to when to apply for the Medicare Part B, D, G...etc.. An Insurance agent is someone I would love to have working with us. At least now I can approach this process head on now.

[thienho]

Dear Stephanie, thank you very much for your videos. Your explanation is very informative and easy to absorb. I wish that I could find a video which explains in what situation, one person may be declined by either a Medicare Supplement Insurance Carrier or a Part D plan, when they apply for switching.

[sreejith]

Thank you a lot for this video. This is very interesting and informative. Keep posting like those amazing videos, this is awesome.

[ArthurMorganFTW_RDR]

This helped a lot of my understanding about part d phases in general, just started working as a benefit adviser so really appreciate your efforts enlightening us....,

[lting]

informative, clear, and good recommendations. Thank you.