Seniors Who Don't Switch Prescription Drug Plans Might End Up Overpaying
Updated: May 22, 2019
If you're over age 65, you probably know the Medicare's Annual Election Period runs from October 15 through December 7 each year. What you might not realize, however, is that this election period isn't only relevant to folks looking to sign up for Medicare benefits. No, the election period is also an important opportunity for you to evaluate your current prescription drug or Medicare Advantage plans.
But maybe you're happy with your current plan. Maybe your prescription drugs haven't changed. Why switch? Because there's a very good chance switching will save you money. The best plan for you this year might not be the best plan for you in the following year.
Don't Overpay for Your Prescription Drugs
Don't believe us? According to the U.S. News & World Report, there is an "average overspending of $373 per person per year for those who choose not to switch." $373! That's not an insignificant amount of money.
Switching plans might seem daunting. How do you know if you're overpaying? How do you know which plan would save you money? Is there a lot of paperwork involved?
Often insurance agents don't want to help seniors research their options and switch prescription drug plans because the reality is that there isn't much money in it for them.
Luckily, Medicare Life Group believes that by helping seniors save money, the goodwill will lead to a happier client and hopefully some referrals. That's why every annual enrollment we help our clients save money by running a prescription drug report to ensure they've got the best plan. If there's a plan that can save them money, we take care of the paperwork and help them make the switch.
If you've got a prescription drug plan, don't overpay. Give us a call or fill out our quote form and we'll make sure you've got the best prescription drug plan for your specific list of prescriptions.