How To Save BIG Money with Medicare Part D! Never Pay Too Much! 💸

In this video, Marvin Musick from Medicare School discusses how to save money with the Medicare Part D prescription drug coverage plan.

Medicare School explains the two types of medications covered under Part D and the two ways to obtain Part D coverage. Marvin also covers three features of Part D plans: the network of pharmacies, the formulary, and the plan's terms.

Additionally, Marvin describes the four stages of drug plans: the deductible stage, the copay stage, the coverage gap or donut hole stage, and the catastrophic stage. This information will help you select the best Part D plan based on your medication needs and save you money in the long run. Don't miss out on this important information to help you make informed decisions about your healthcare coverage!

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[jonim]

Shame, shame, shame on the "powers that be" for subjecting seniors to this confusion. Truly pathetic.

[ginaward]

I can’t believe what this Medicare does to seniors! They should be ashamed of themselves..

[chuckmurray]

Only in the U.S. are we allowed to be ripped off on prescription drugs. Taxpayers help fund drug discovery and then end up getting price gouged into poverty.

[jetbisayaadventures]

I was listening concentrating on everything in this video suddenly I cracked up insanely because I was thinking these subject matters are for Medicare covered patients and we are older and understanding or keeping track with all these information is truly completely insane. My mind while watching I’m imagining wondering who in the right mind able to have all these confusing coverage being implemented and put in to law for seniors. Remember seniors have, some of us have a short term memory loss, forgetful, can’t think of everything except our medication, to get into the whole game of Medicare is completely terrible to dealt with. Why can’t be seniors treated simple, direct and easier in every level. It just plain painful and worst we are gonna die sooner than every other age group will. appreciate your time and effort to have your valuable videos out there, .

[geoffin]

OK, got it. I've just enrolled in Yale to get a doctorate in US Medical retirement plans. They've warned me that only 3% of their graduates actually understand all the in's & out's of this and I'd be better off getting a Yale legal degree and joining the lobbyist for healthcare to really take advantage of all of this unnecessary complexity.

[cas]

One thing not mentioned here is that individual pharmacies can charge whatever they want for meds and you need to shop around to see what other pharmacies charge. The plan I'm on encourages CVS as a preferred pharmacy. I was put on 2 new generic cholesterol medications this year. I went to CVS to pick them up and they tried to charge me more than $400 for these 2 generic meds for 90 days each saying that it was because I hadn't yet met my deductible. So, after researching, I transferred both prescriptions to Costco, who charged me $38/$15.99 for the same 90 day supply meds on the same day. I may never meet my deductible, but who cares? CVS has been involved in lawsuits for price gouging. It pays to shop around.

[beth]

This is ridiculous for senior citizens esp those who were not high income earners during their working days and should be exempted from a very convoluted Medicare plan. I buy my meds from coupons or discounts bec it’s cheaper than copays. Whoever is profiting so much from this would definitely answer from his Creator when his time comes.

[NoelLudvigson]

So another words - don't get sick!

[brian]

Man, our government can really make things complicated! Who thinks this crap up???

[randyjerrett]

You have to have a lawyer beside you when you go to the hospital

Only the Government and Insurance Companies come up with this crazy formula. Thanks for breaking it down for us, you are truly the one person I trust on these issues.

[saulflores]

Part D pricing on tier 3, 4 and meds was the shocker on the meds currently taking. A&B and supplement premiums was affordable. Unfortunately part D plan premium was also affordable but not the pricing on the formularies on tier 3, 4 and 5 . According to two separate brokers the pricing was astronomical out of pocket from 1 through 4 stage . As you stated not many make it through all stages but we will. Luckily we have the financial means to do so. This part ideally needs to change to be more affordable for all.

[DecFirefly]

Here’s something most don’t know. 1. Medicare doesn’t mandate either a deductible or a % co-pay in the gap phase. However, Medicare does place limits on both and most Part D plans charge the max allowable amt. Max 2024 deductible is $545 & 25% co-pay. Some plans charge 25% in the coverage phase. And, Plans can change the tier, the cost and eliminate a medication at any time during the year. So plan D is only a contract trapping the insured bcs “the plan” is free to change the terms of the contract. The only one held to this “so called contract” is the insured. This is BS & absolutely must change!!!

[dgman]

Excellent video on an expensive drug cost. 4 stages of pricing is complex, but again it's the government.

[brianfolding]

Leave it up to the government to screw us all six ways from Sunday. Thanks for the explanation but those tiers are causing me tears.

[BlindSquirrel]

So helpful to understand this complicated “system”. Thank you for teaching it well.

[smallfootprint]

This is the first time I've heard that there are more than one type of Part D plan. I pay a lot more than you mentioned. Right now it's $110.20. Yikes!

[tomnemmers]

Great info Marvin especially about the formula used for meds. Never really understood it before. I subscribed and a thumb up.

[stephenzies]

Thank You Marvin You Are Awesome. I Enjoy All Your Videos And Knowledge. 👍

[lizduchaney]

Thank you. I finally understand it. My MIL’s Eliquis copay is always changing. Now it makes sense to me.