California Health Insurance News 
Articles / Medicare Part D - Valuable tips to help sort out confusions
12/02/2005
Since the announcement of Medicare Part D, what at first seemed a great benefit, created a lot of stress for seniors that were asked to make a decision about which, if any, plan to enroll into. Each insurance company and each state seemed to have different rules, different benefits and different rates.
As enrollment time (November 15th) approached, seniors were inundated with competing offers by mail, radio, TV, magazines and newspapers each offer claiming to be the best.
With so many variations it is not surprising that many seniors are biding their time before enrolling to try and sort out much of the confusions and sometimes contradicting data. Since they have until May 15th to enroll before long-term penalties take effect, many are appealing to their insurance agents or brokers to find answers for them.
" I spend at least half my time with my senior clients, answering questions about Medicare Part D." said David Thau, CEO and founder of 'Keep It Simple Insurance' in Los Angeles. "My personal feeling is that there are too many variations that only make things more complicated and more difficult for clients to make an informed decision. If there was a little more standardization, seniors would be enrolling at a much quicker rate."
Thau offers the following comparison tips:
* Plan Premiums - Is there a monthly plan premium you must pay for coverage? Multiply this amount by 12 to find how much additional cost you will have per year for your coverage.
* Copays - Do you have a flat fee or copayment for drugs, or is there a percentage of the total drug cost that you pay? Is the copay affordable for your most frequently used drugs?
* Deductibles - Will you be charged a deductible or will coverage begin with the first dollar of drug costs incurred?
* What Drugs are covered - Do you have coverage for the drugs that you use most including branded drugs or injected drugs?
* Prescription Plan Vs. A Health Plan - Are the costs for your prescription plan in addition to your other health plan costs? Look for a plan that can provide all your healthcare needs for the future.
There are obviously many other questions that need to be answered before making the final decision on which Medicare Part D Plan to chose, and this is where your agent or broker plays a vital role in advising you the best course of action for your individual needs.
