Bobby Brock Insurance Blog

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Can You Avoid The Part D Donut Hole?

The infamous Part D Donut Hole is the portion of Part D in which your coverage lapses. When you and your insurance carrier collectively pay $4,130, you are responsible for paying 25% of the cost of every medication you need from that point. Once you and your plan have paid

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What is a Part D Formulary?

One of the most expensive parts of routine healthcare is paying for prescription medications. Medicare Part D is one of the options Medicare offers to help you pay for prescription drugs. However, prescription medications cost a different amount depending on the plan and your area. You can find out which

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How Can I Compare Part D Plans?

Medicare is composed of 4 Parts: Parts A, B, C, and D. Part D is the completely optional portion of Medicare that offers prescription drug coverage in exchange for a monthly premium. Because Part D prices and coverage differ depending on your area, it can be confusing to know which

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What are the five tiers of Medicare Part D?

Medicare Part D uses a formulary, or list, to sort the plan’s covered prescription drugs. Each drug is placed in a tier based on if it is generic, preferred, or specialty. These tiers determine the copay you are expected to pay at the pharmacy counter. As you go up in

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How do I choose a Medicare drug plan?

Medicare Part D, offered separately from Original Medicare Part A and Part B, is Medicare’s prescription drug plan. These plans are standardized by Medicare but administered by private health insurance companies. All plans look similar in structure, with differences in the drugs they cover and in the copayments and premiums

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What parts of Medicare are mandatory?

Is Medicare optional or mandatory? At the most basic level, Medicare is not mandatory and so citizens do not have to sign up to receive the benefits associated with Medicare. Having said that, there are specific instances and situations under which Medicare does become a mandatory policy even if you

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