Your Medicare Part D plan could change

    Did you know that drug companies change the drugs they cover and the costs you pay from year to year?
    All Medicare Part D companies reserve the right to change the drugs they cover as well as the cost of those drugs at the end of each year. What this means is that even if you are currently pleased with your Part D coverage, there is no promise your plan will be the same in the new year.
    In order to ensure you have the best drug plan to save you the most money and keep your drugs on your plan’s formulary, you are encouraged to compare drug companies each year during the annual election period, Oct. 15-Dec. 7.  
    Even if you are happy with your current plan, you should still do a comparison because the details of each plan can change each year, and once the new year starts, you are unable to make changes. State Health Insurance Program counselors provide this service free of charge.
    
Potential yearly changes
    1. Deductibles. The average deductible in 2019 will be $415, but plans are allowed to have a lower deductible or no deductible at all. Your existing Part D plan may have changed its deductible for the upcoming year and might not be as competitive.
    2. Co-pays at the pharmacy. Each Part D plan has a unique relationship with each pharmacy. The relationship between your plan and your favorite pharmacy might have changed. If you want to stick with your pharmacy, there may be a less expensive plan. If you are concerned about costs, switching to a plan that has a preferred pharmacy in your area may also significantly lower your costs.

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