COST INCREASE: 2 NEW Part D Rules Will INCREASE Cost For Many! 😱

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Marvin Musick from Medicare School is here to give you the latest updates to Medicare Part D plans and their prescription drug coverage for 2024.
There are new Part D rules that could lead to increased out-of-pocket expenses for some. He's here to help make sure you choose the right plan and make sure you can distinguish the important distinctions between preferred and standard pharmacies and the essential utilization rules like quantity limits, step therapy, and prior authorization.
Marvin will also help you secure Part D coverage, whether as a standalone plan or as part of a Medicare Advantage Plan. These 2024 changes increase deductibles and the adjustments in the coverage gap phase for many, but exactly who? He also brings attention to the positive changes brought by the Inflation Reduction Act, particularly the reduced out-of-pocket costs once reaching the catastrophic coverage phase.
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[@MedicareSchool]

✅ Watch the Internet's #1 Online Medicare Educational Workshop for FREE: get.medicareschool.com/45V4Rbw ✅ To get 1 on 1 Help from our Team, Schedule a Call Here: get.medicareschool.com/3PuKFq3

[@justjulie37]

People in other countries look at our healthcare system and are shocked how ridiculous and sociopathic it really is. They have no idea what medical debt or medical bankruptcy is. And yet, we may never have universal healthcare like the rest of the world. Our system is so complicated and disgusting, it makes me angry. We lose thousands of lives every year because of this BS

[@GabrielSBarbaraS]

The system is broken and we all know that, what we need here is the means to correct it for our elders that gave us so much only to face this finely crafted ludicrous mess.

[@Robert_A_Keyboards4948]

The problem is many complain about it across all political spectrums (unless you are rich) however, no one really will vote to change it. It could change however people spend their time being distracted and hating each other and worrying about many things but NOT how can we fix this healthcare system?

[@tonym6920]

Yeah, that 3.2% cost of living increase in SS is really going to help me here. LOL😊

[@eddiea3782]

What a rip off that was/is.

[@lorivybihal5385]

The phase part is ridiculous. the older you get the more medications you're on and the more it cost you for Medicare and for medical costs

[@jumpinjehoshaphat1951]

It's nothing new. Part D has had phases since it was created in 2003.

[@karenkoe7096]

Duh.

[@kristinstrand7880]

It’s sad that after working their whole life and the government screws them over again. This is so sad.

[@fayeb.5855]

The costly BS because Part D was privatized instead of incorporating it into Medicare. I was employed in the private health insurance for many years as a product and compliance analyst.

[@susierider55]

I don’t think it could be anymore complicated if they tried🙄

[@bobbya51]

Obviously by design . The less insurance plans have to cover , the better for the shareholders .

[@karenkoe7096]

@@bobbya51 This is going to be picked up by big Pharma not the insurance companies.

[@flyboy1ron]

I started on Medicare last year. My premium for Part D was 69.00 a month with no deductible. Then they raised my premium to $125.00 a month so I switched plans. Now I pay 80 a month, plus have a 400 deductible. I can see in the future and see my monthly premium going up and up since the insurance co is responsible for more of the cost. Next the Gov will have to work on a cap for the plan premiums.

[@karenkoe7096]

I found one for $9.90 a month with a $280 deductible. What state do you live in?

[@alansach8437]

My Part D Plan is .50 a month! Why is yours so high?

[@ADAdams-wn1nc]

Marvin you are fantastic! I appreciate how you dig all of this information out and teach it so people can easily understand it. Keep up the good work and God bless you and yours.

[@MedicareSchool]

I appreciate that!

[@randyhilton6629]

I was paying 0 dollars for a drug plan as it was included in the MA plan. Now I am paying $19/mon, I can imagine it will increase each year if the Insurance companies or manufacturers have to pay more. Currently, I take no medication (knock on wood). I don't have any faith that we will get a decent healthcare system here.

[@MedicareSchool]

My team would be happy to assist you. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com

[@hunterx.8660]

Nice job in explaining the Drug D plan pricing, thank you!

[@conureron3792]

Lol @ “Hopefully, all that makes sense”. 😂

[@daisy7141]

My prescriptions didn't go up, but I had to pick a new plan and it has a zero deductible. It is higher then my old plan by about $40 mo. My old plan dropped out of Medicare. Some people did not know that you 'must' have a drug plan or you have a monthly penalty added on for the rest of your life. That's me.

[@maysrg]

He missed one situation- employer retirement plans that include a drug plan. Like tri-care or retired military, there are only tiers based on medication cost, and it does count as part D.

[@dakilangt.v.2180]

Medicare School, your video on "COST INCREASE: 2 NEW Part D Rules Will INCREASE Cost For Many!" addresses an important topic that can impact many individuals relying on Medicare. Providing information on changes in Part D rules and how it may increase costs is crucial for viewers to stay informed about their healthcare coverage. Thank you for offering valuable insights and resources to navigate these changes! 💊💡 #MedicareCosts #PartDRules #MedicareSchool

[@MedicareSchool]

Thanks for sharing!

[@silver6054]

"True out of pocket" is a great term for something that is nothing of the sort!

[@dusttodust4295]

WOW thank you for clarifying 🌹

[@MedicareSchool]

Glad it was helpful!

[@arthurrodesiler3109]

Ins. Co. will just raise the price on the D plan is all. Since you said only about 1 percent hit this catastrophic plan D programs should not go up much we hope.

[@marshaloftis7485]

Thank you

[@MedicareSchool]

You're welcome

[@user-op6ec1ee4x]

Th as nk you.

[@MedicareSchool]

Thank you for watching

[@jonboz7585]

I switched from an Advantage to a UHC Supplemental plan, with Mutual of Omaha Rx plan. When I tried to use the Rx plan at Walgreens, it was denied. I gave Walgreens all the info off of my Rx card. Does Walgreens also need to have my Medicare number too?

[@barreloffun10]

No they don't. Medicare drug plans have networks of pharmacies they are contracted with. Most likely Walgreens is not in-network with Mutual of Omaha. You can call the customer service number on your card to find a pharmacy you can use, or you can use the plan's mail order service.

[@markg6860]

Your plan was "denied" because your particular medication was not on that plan's Formulary. (Actually, you could have still got the medication, but you would have paid full retail price). You should always purchase a Part D plan based on it covering all your prescription medications. Solution: your current drug plan should still cover an alternative or generic medication, so speak to your doctor about prescribing one of those.

[@eddiea3782]

Walgreens asked for both my insurance and Medicare info before they could take care of me. Now that it's all on file I'm good.

[@barreloffun10]

@@markg6860 True, but pharmacies also need to be checked to see if they are in-network.

[@jonboz7585]

@@eddiea3782 Thanks. I’ll call Walgreens and follow up on this. Much appreciated.

[@DeadSea225]

Mine a S pharmacy for my shot and it’s cost $3,927 Humana paying glad they are not me so one nice thing part D does

[@joannejohnson85]

My mother FEHP standard medication pln just added a part D option w/ OOP costs and other strange stuff (lack of a better term) tht makes no sense. She has mcare prt AB+supplemental. Hve no idea why she would need this so had her opt out. Do u know about this?

[@MedicareSchool]

My team would be happy to assist you. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com

[@selenian0255]

I checked on plan D and my asthma medication (no generic, tier 3) was 150 to 180 per month. This was on all of the options and not affordable.

[@terrysmith1914]

I hope for you your drug goes generic soon

[@MedicareSchool]

www.ssa.gov/medicare/part-d-extra-help

[@dawnMYOB]

My main monthly prescription is Humira, which currently retails at over $7000 per month. How do I possibly continue taking this medication once I start Medicare?

[@brentgindelberger8851]

Starting in 2025, total out of pocket costs for all drugs you take will be $2000 per year (indexed for inflation each year after that) for Part D plans.

[@MedicareSchool]

My team would be happy to assist you. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com

[@alansach8437]

I just watched a video with Neil deGrass Tyson discussing quantum physics, and it was easier to understand!

[@LA70S]

Had to drop our Part D plans. Too expensive and deductibles are insane.

[@MedicareSchool]

There may be more affordable options. My team would be happy to assist you. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com

[@alansach8437]

My Wellcare plan dropped this year to .50 a month! I couldn't believe it! I think it was about $10.00 a month before. I don't take any drugs on a regular basis, so not really sure what the differences are. I did get a short term prescription a few weeks ago and it only cost $1.00, so that was good!

[@lisaveta8565]

I 🙏🏻to dye quick and inexpensive. I will not afford all this expensive drugs and plans.

[@maysrg]

Employer self-insurance plans do not have to obey all of the Medicare rules.

[@Losttoanyreason]

I wondered why my Part D premium more than doubled for 2024. Now I know.

[@alansach8437]

Why did mine drop like a rock?? I really want to know! It's .50 a month now! I thought everyone's dropped.

[@FatherandSonHavingFun]

So is that $2000 retail or $2000 troop for 2025?

[@brentgindelberger8851]

Troop for the drugs. Premium costs are another matter.

[@andreavandekleut6379]

IF retired military have tricare for life with scripts included, do we even NEED to aquire medicare? can,t we go it alone with what we got?

[@sammencia7945]

Yes because after age 65 YOU are first payer or Primary Insurer and then Tricare. Get Medicare Part A and B and then it pays 1st and Tricare 2nd. Do not get an Advantage Plan, or a supplement plan, or a Part D. Regular Medicare and keep Tricare for Life. Easy and only $175 a month.

[@thedude2601]

Best/cheapest Part D plan for Tier 3 drugs?

[@markg6860]

You can look those up online, by zip code. However, Part D/drug plans vary in their Formulary (the list of mediications that they cover). Therfore, most important is whether or not your partcicular medications will be covered. If not, you will either need to switch to an alternative/generic equivalent thatis covered ... OR change drug plan.

[@MedicareSchool]

My team would be happy to assist you. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com

[@gindyjohnson8062]

So confusing.......

[@MedicareSchool]

My team would be happy to assist you. Give us a call at 800-864-8890 or schedule an appointment at www.medicareschool.com

[@juliebutler8241]

But I don't need drugs. Im not sick! I eat a proper human diet.

[@alansach8437]

I have a cousin who is the healthiest person I know. Grows her own food, rides her bike on 100 mile trips! Just diagnosed with cancer! It doesn't matter how healthy you are. Sh!+ happens. Her doctor told her that genetics and living a healthy lifestyle are 20% of it. They help. But he said, in his experience, the rest is a crap shoot!

[@gracie565]

Why are you paying for a prescription plan when you’re not taking meds or they aren’t covered at all

[@alansach8437]

Because you might need to take some on the future. If you fail to get a part D plan when you first become eligible you will be penalized when you do get one, and it's permanent. You will have to pay the penalty every month for the rest of your life. Better to get a cheap plan, even if you don't need it, when first eligible than pay a penalty forever.

[@MedicareSchool]

To avoid penalties in the event that you need a prescription plan in the future