Your Part D Review Checklist: 5 Things to Have Ready Before Open Enrollment
Open Enrollment is truly just around the corner. But preparing for this time does not have to mean sorting through every plan and detail on your own. A helpful first step is to gather the information necessary to review your prescription drug coverage.
But where should you begin?
Medicare Open Enrollment runs from October 15 through December 7. Whether you are comfortable with your current Part D plan or wondering about other options, having a few nkey items ready to go can make your review easier and more useful.
Why is this important?
You might not have any current issues with your Part D coverage, but that doesn’t mean that things can’t change. Your prescription needs may change, and your plan can change too. A plan’s covered medications, pharmacy network, deductible, and other costs may be different from one year to the next.
Even if you take the same medications, it is worth checking how your coverage will work for the coming year. The plan may cost less each month but charge more for your medications, so your monthly premium shouldn’t be the only consideration.
An annual review gives you an opportunity to understand those details and consider whether your current coverage still fits your needs.
Here are five things to gather before you begin:
Medication List
First things first, you will want to start with a current list of your prescription medications and their dosages. Make sure the list reflects what you take now, including any prescriptions that have been added, stopped, or changed.
You can do this by gathering your prescription bottles or use an existing medication list as a starting point. If you are unsure about a medication name or dosage, just make a note of it. You can then confirm it with your pharmacy or healthcare provider to be fully prepared.
An accurate list helps make the comparison specific to YOUR healthcare needs. Two people may have very different prescription costs under the same plan because they take different medications.
Preferred Pharmacies and ZIP Code
Next, you will want to write down your ZIP code along with the names and locations of the pharmacies you prefer to use.
Plans available in your area can differ in their costs and pharmacy networks. Your choice of pharmacy can also affect what you pay for prescriptions. A pharmacy you regularly use may not be a preferred pharmacy under every plan.
For example, a pharmacy just five minutes down the road could cost you less for the same medication, depending on your plan. You may not realize there is a difference until you compare your options.
By bringing a list of pharmacies you use, and any others you would consider, allows you to compare convenience and potential savings during your review.
Part D Plan Information
Just as importantly, you should have your current plan name and insurance card available. You should gather any plan materials or notices you have received about coverage and costs for the coming year, sometimes known as an Annual Notice Of Change.
If available, you should include information about your:
These details provide a perfect starting point for comparing your current coverage with other options. Do not worry if you cannot find everything. Bring what you have and write down anything you need help understanding.
Any Changes in Medications, Health, or Care
Next, you will want to compile a short list of changes that could affect your prescription needs.
Possible considerations could include:
You will also want to note any prescription changes your healthcare provider has already discussed with you. This doesn’t mean you need to predict future medical needs. The goal is to make sure your review reflects your current situation and changes you already know about.
Recent Prescription Costs and Questions to Ask During a Review
Finally, you want to gather recent pharmacy receipts or other records showing what you have paid for prescriptions. These can help you explain your current expenses and identify concerns you want to discuss.
If it becomes confusing at any point when gathering this information, just write down your questions. Compiling a list of questions ahead of time makes it easier to guide the conversation as well as leaving you fully educated after your review.
Some examples could be:
Will my current medications be covered next year?
Is my usual pharmacy preferred under this plan?
What might I pay overall, including premiums and prescription costs?
Does the plan have a deductible?
How would my costs compare if I used a different pharmacy?
You do not need to have all the answers before reviewing your plan. Having the questions ready helps keep the review focused on what matters most to you.
It’s Time to Take the Next Step
A little preparation can make your Part D review feel more manageable. Gather what you can, note your questions, and give yourself time to understand your options. Following these 5 steps will make the review process that much easier.
If you found this checklist helpful and want your own copy to help you prepare, feel free to download and print the checklist below!
Schedule Your Appointment Now
At MyHealthGap, I work with clients one-on-one and provide independent guidance based on your healthcare needs, doctors, prescriptions, and budget. I do not receive commissions from insurance companies, so my focus is truly on helping understand your options and choose coverage that fits you.
By clicking the button below, it will take you to the Medicare Open Enrollment page where you can learn about the Part D review services and schedule your appointment now!
You can also email me at: amanda@myhealthgap.com. or call 760.822.3325 to begin.
Together, we can begin sorting through your Medicare options with greater clarity and confidence!
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