You can't pick a Medicare prescription drug plan by using the monthly cost as your only selection criteria. There are numerous other considerations.
You need to go to Medicare.gov and use their selection tool. You plug in your exact medications and they will calculate all your costs. In my case I selected Silverscript (part of CVS Caremark) which costs each of us $29.10/month. There is no co-pay for our generics and also no deductible. So our yearly total cost is $698 and we are covered for all generics and anything else that might come up.
Barry
From: RoBar1521@aol.com
Sent: Tuesday, January 22, 2013 11:53 AM
To: vpFREE@yahoogroups.com
Subject: [vpFREE] Re: W-2G and Medicare premiums - drifiting off-topic X VP
For the moment I'll just address the Part D Drug Plan. In our case we
have two people who each take two generic drugs which we could each purchase
for $8/mo (2 X $4) or $16/mo for both of us. That amounts to $192 a year
for both of us for the drugs we are currently taking. However. not signing
up for a Drug Plan involves risk if either of us gets sick and needs new
meds.
Signing up for the cheapest drug plan for both of us (2 X $18.50) + 2 X
'the penalty" adds up to $1602/year and on top of that we EACH have a $325
deductible to pay out of pocket so our total for one year is $2252.
Does this make sense? We will pay $2252 for meds that we can get for $192
if we just walk into a pharmacy.
B
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