Message Font: Serif | Sans-Serif
No. of Recommendations: 3
A lot of people jump into a Plan D when they're eligible, but I'd suggest first checking which Plan D providers exist in YOUR state; you can do this on line. Then check what they cover for the prescriptions you take now, and what they cost, as opposed to using Wal Mart or other cheap sources vs what the monthly premiums will be for the Plan D you decide would be best.

Plan D can be a good deal IF it will cover YOU for costly special prescriptions YOU need, but you need to look at total costs for the Plan D premiums, any co-pays, and the cost for the prescriptions themselves!

In my first year of eligibility, four years ago, I was able to get a plan that cost me about $13/month, but it paid 100 percent of the cost for my BP meds, which were running about that same amount, so it was a wash. (This was before Wal Mart and others came out with their low cost options.)

The following year, the best available plan jumped to $23/month PLUS a $5 co-pay per med! I dropped the plan. My wife, who takes only a cheap BP pill, too, never signed up at all.

Today, I take a total of four prescriptions for blood pressure and gout. However, my doctor has prescribed generic forms that cost me just $10/90 days for each of them at my local Rite Aid, who grant me Wal Mart pricing as long as I ask for that special pricing every time I get a refill. (That seems odd, but it's how they do it.)

My total cost is thus $10 x 4 prescriptions or $40 for 90 days worth of pills -- about $13.33/month. If I bought a Plan D here now, it would cost me a LOT more than that AND require a co-pay on top of that!

Yes, there is a "penalty" if and when I choose to sign up later on, but so what? It's not that big. Meanwhile, we're saving a LOT of money every month!

Again, I suggest that you check the math and do what works for YOU; never mind what AARP or the "experts" keep yelling at you.

Print the post  


What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.