In this video, you will learn about prescription drug coverage. Many people rely on prescription drugs to make it through each day. Drugs are seemingly expensive. For a lot of people, insurance helps with these costs.
For some people, paying high deductibles and out-of-pocket prices are a reality. A study in 2016 shows that 40% of people over 65 take five or more prescriptions per day. Medicare can help with this. There are two ways to sign up. You can purchase a medicare part d plan. There is a list of drugs that companies cover called a formulary. Tiers categorize the drug. YOu can get the most out of the part d plan by checking the formulary. If you don’t sign up for Medicare when you are first eligible, you could be paying late enrollment fees. The form will give you a lot of inside into whether or not there are fill limits, how often you can get your script filled, and preferred pharmacies. Following this closely helps save you money in the longrun. Interested in learning more? Keep watching this video for more information on Medicare enrollment periods.