Part D Might Be the MOST Important Part of Medicare

Thanks for listening to the Senior Resource Podcast Network. This bonus episode is from Medicare Moments. If you like what you hear, visit the show notes for links to follow the podcast on your favorite listening platform.

This is Medicare Moments with your host, Toni King. Hi, Toni.

How are you doing, Jim? And you didn't tell them your name. You're Jim.

I'm Jim, and Toni is the host.. And we're here with Medicare Moments. And thank you for downloading and joining us today. It's really great to have each and every one of you there. And as you know, Toni is the nation's leading author. She's a columnist, and she's also the host of this podcast, Medicare Moments. We talk all things Medicare.

That's it. We help people understand how to navigate the Medicare system because Medicare is like a maze. What you don't know will hurt you.

And it's a government maze. And you know, it tends to change from time to time. So that's why it's really important to stay here. And it's really important to share the information we give you with your friends because that's the best way. In fact, Toni, I should tell you, I just shared some podcasts of yours on my Facebook page, my personal Facebook page.

Well, that's great. And people need to go on Senior Resource and look at their Facebook page because everything is there, and it's amazing what all they have. They can also go on the Senior Resource website. I've never seen so much information to help people. Not only about Medicare, but about helping your parents find assisted living centers. I mean, they have everything on their retirement living, elder law care. People have problems with a lot of things. They need help. America needs help, and we need to put control on our side, right?

And, and if you listen to our podcast Medicare Moments with Tony, you'll find out a lot of great tips. And please feel free to share our podcast, Toni's articles with your friends, and seniorresource.com is the website. And tonisays.com is another website. Yes.

So let's talk about what we're going to talk about today, because it's very important. It's a little different. People get confused when they are retiring and they don't really know what they're looking for and they want to know what's most important and they focus on the wrong things.

And this title kind of reminds me of something I once saw on a report card when I was back in school, but it goes something like this: Is Medicare or the Part D drug plan more important when you're retiring?

Which one is? So read them the question. Let them hear what O. Roger said from Las Vegas.

Says, I'm retiring January 1st and I'm beginning to search for the right Medicare option for me and my wife, who is having breast cancer treatment at a local cancer facility. Facility. Her cancer drugs are expensive, and I'm concerned about the Medicare Part D out-of-pocket. I am a diabetic and use the FlexPen with high blood pressure prescriptions. Most of mine are generic except for the diabetic prescriptions. Our Medicare Part B will begin January 1st, as my company benefits will end December 31st of this a year. What should I do to prepare for this medical insurance change? I will be 70 and my wife is turning 65 by the time I retire. I want to be sure I do this correctly. Thanks, Roger from Las Vegas.

Tony, isn't that just sound confusing? People really just really do not know what to do when they're getting on Medicare. So what we need to let them know is that Medicare is not cookie cutter. One size does not fit all. People start asking all of their friends what they need to do, and their friends can confuse them because their friends don't know what's important to them. They don't know how much money is in their bank account. They're confused about the donut hole. They really don't know how the prescription drug plan works. So whenever we do a consultation or we do a Zoom meeting with someone— and people can email us, we do Medicare consultations by Zoom nationwide. Medicare is the same in Texas as it is in Pennsylvania, where is one of the places that you've lived, or California, or Florida, or Alaska. The Medicare rules are all the same. So we tailor Medicare to fit their needs. Everyone's Medicare health and prescription drug situation is different. You wanna take some time and consider what you need to do. So you wanna know which prescription drug plan is most important to go with I would always look at your prescription drugs first. That's where I would focus, because both of these people are retiring December 31st, or if you're retiring May 31st, or whatever day you're retiring and you're getting your Part B for the first time, you won't have to answer any health questions with your Medicare supplement, but your prescription drugs is a totally different situation.

So when someone comes to see you for a consultation and People can email you at TonySays.com and they can ask for a consultation. The first thing you look at is their drug list.

Correct.

What prescriptions they're taking. And then you tailor around that the right program for them to use.

Correct. And we ask them certain questions like, what prescription drugs are you taking? Your health issues? I just had someone come in the office that uses Dupixent. That's a $4,000 a month prescription for psoriatic arthritis. So you've got to be real careful. You might pick a plan that's not covering the Dupixent. We show them, we go to the Medicare.gov website and we show them which prescription drug plan will best fit their needs at that time.

So there's a place where you can go to see what prescriptions are covered and how they're covered, correct?

That's true.

This is just really, really important and that's why As Tony said, one size does not fit all, and what you don't know can hurt you. That's why it's important to get with Tony for a consultation or buy her book, "The Medicare Survival Guide," because it's important for you to have it so that you know what you're dealing with and how you're navigating the Medicare system. And we're gonna talk a little bit more about this when we come back. So we'll be back right after this message. Welcome back to Medicare Moments. Tony King is your host.. And it's an important episode today, like everyone really is. And is Medicare or the Part D drug plan more important when retiring? And Tony, you were saying that folks should check out and see what medications they're on and how they are paid for by Medicare, correct?

Correct.

Sometimes not all your prescriptions are covered with a plan you pick. So you put all your prescription drugs in the Medicare.gov website. And you make sure that all of your prescriptions are covered. Because guess what? If your prescription is not covered, what's going to happen? Whether it's generic or brand-name drug, you have to pay 100% out of your pocket for that prescription. So you may look at different things, and it might be a different name than what you're used to, and all you want is a certain plan with a certain company, and maybe that company is not covering your prescription drugs. So you want to take your time and make sure that all, all of your prescriptions are covered.

So two things, two questions to ask you, Tony. Number one, what if you didn't do that? What if you just thought this is one size fits all and you took it and you didn't check anything and now you're into it? So that's why you use the annual enrollment period to change.

That's what's going on from October 15th October 1st through December 7th is Medicare's annual enrollment period. And that's when you can change to a Medicare Advantage plan. And that is when you can change your prescription drug plan. So that's the only time of the year. If you make a mistake and you enroll in the wrong plan, you got to wait till the annual enrollment period to make that change.

So you're not stuck forever. You're just stuck till the annual enrollment period, right? Okay.

Correct.

That's number one. Number two, what if you did exactly what you said? Tony King, and then all of a sudden, 60 days into it, you're on a brand new medication that you were not expecting because something happened. Are you in the same—

you're still stuck. You're still, you're still stuck with whatever you've got. And there's a lot of different organizations that can help you with that prescription drug. If you're taking something that's real expensive, go to whoever it is that's making that prescription drug plan and see if they can help you and send it your way at no cost. There's different things that you can do and make sure that everything is done. Your prescriptions are important. But also finding your situation for your Medicare. So now you're retiring, you wanna make sure that whatever you're picking health-wise, going to the doctors, is important. So you wanna sit down with your doctor's office manager and say, which way should I go? Should I go with Original Medicare and a Medicare supplement, or should I go with this Advantage plan? How do you feel with my health issues? Because Medicare Part B is like gold. What it offers You can't take that away. So when you're getting Part B for the first time, there is a Medicare rule that's in the Medicare Survival Guide. We, we discuss it, and it's also in the Medicare You Handbook. It's about when to buy a Medicare supplement. So when someone is getting Part B for the first time, you have a 6-month window where you can get any Medicare supplement without having to answer one health question.

Right, which I didn't know when I signed up, which you helped me.

I know.

Right. I was—

We saved you.

I was just lost out there. And, and, and Tony did do that. And folks, you can go to TonySays.com. You can send Tony an email and you can ask her questions about your particular situation because like Tony said, whether you're listening to us in Maine or San Diego, California, Medicare is the same throughout all 50 states.

Correct. And you've got your 6-month window that's important when you have the Medicare Supplement, Medigap, open enrollment time, and you do not have to answer one health question. We have saved so many people. They thought that they could just change at any time. You never had to answer any health questions. And when you've got something serious that's wrong with you, if you're insulin-dependent diabetic, Parkinson's, um, you've had heart problems, whatever your situation could be, got back issues, whatever, I mean, you may not be able to make a change. So you want to make sure you do everything the right way. That's very important to do that.

And we want you to know too, if you would like to reach out and talk directly to Toni, you can call her office at 832-519-8664, or you can email info@tonisays.com, and you can send to her any of your questions or any of your concerns, because what we want you to know the most is that Toni's here to help you. Toni, you've helped so many people.

I can't even count how many we've helped. Been at least 50,000 people that we've helped, right? Just in the Houston area. Now we're going nationwide.

And that's why Toni is America's leading Medicare expert. So for all things Medicare, the Medicare Moments podcast is the place you should be, and you can share it with your friends, and we encourage you to do that. So Toni, getting back to this, have we covered everything on this particular episode about Part D?

They just need to take their time Don't rush things. Watch out, you start getting a lot of mail. They know that you're turning 65. They understand what your situation is, and they're trying to make a sale. They are the insurance companies and the telemarketers that are trying to help you with your Medicare. They want to help you, but they're also trying to help themselves. So be careful who you're giving your information to over the phone. You know, if they start asking you for your Medicare number, your birthday, your Social Security number, just say, I'll talk to you later, if you don't feel comfortable. Don't you think?

I agree with you. And you must be proactive also in seeking out what's very best for your individual needs, or you and your spouse's individual needs. Do that. And that's why we're here. So any questions, please reach out to Tony info@tonysays.com. And And that wraps another Medicare Moments today, right, Sue?

Well, I just want to thank you, Jim. This has been good.

It's been good.

It's been fun. And we just want to tell everybody thank you for listening to us. Until next time, God bless you and God bless America.

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