11 Costly Medicare Mistakes to Avoid

I think probably the first place is something that we have to deal with every year.

So, well, first of all, let's talk about dates because that's important.

So October 15th to December 7th every year, we have this open enrollment for your Part D, which is your drug plan.

So D for drugs.

That's the easiest thing to remember.

So that's where we're going to select our drug plan for the upcoming year.

The mistake that many of us make is not reviewing that plan and how it relates to our current formulary, if you will, for our drugs.

So in other words, they change every

year.

List everything that you take and your plan might not cover as much or any of a certain drug you're taking, even though it did before because these plans change.

They do.

You're saying meet with a Medicare specialist, review what drugs you take and find the plan or the Part D or drug plan or Medicare Advantage plan or supplement plan that's going to best fit your needs and that makes sure your plan is covering the drugs you're on, right? Exactly.

Because drug plans change their formularies all the time.

The other thing they do is They move the tier.

So you may have been in the lower tier for this last year, and now they've moved your drug to a higher tier.

So those are some things that you have to look, because that can be costly.

Yeah.

The second mistake when it comes to drugs is assuming that you and your spouse should be on the same drug plan.

Absolutely not.

Almost never.

Unless you're taking the exact same drugs.

Exactly.

And the exact same doses, which you're not.

No.

I mean, you're not going to be on the same exact dose and all the same drugs.

I think probably the first place is something that we have to deal with every year.

So, well, first of all, let's talk about dates because that's important.

So October 15th to December 7th every year, we have this open enrollment for your Part D, which is your drug plan.

So D for drugs.

That's the easiest thing to remember.

So that's where we're going to select our drug plan for the upcoming year.

The mistake that many of us make is not reviewing that plan and how it relates to our current formulary, if you will, for our drugs.

So in other words, they change every

year.

List everything that you take and your plan might not cover as much or any of a certain drug you're taking, even though it did before because these plans change.

They do.

You're saying meet with a Medicare specialist, review what drugs you take and find the plan or the Part D or drug plan or Medicare Advantage plan or supplement plan that's going to best fit your needs and that makes sure your plan is covering the drugs you're on, right? Exactly.

Because drug plans change their formularies all the time.

The other thing they do is They move the tier.

So you may have been in the lower tier for this last year, and now they've moved your drug to a higher tier.

So those are some things that you have to look, because that can be costly.

Yeah.

The second mistake when it comes to drugs is assuming that you and your spouse should be on the same drug plan.

Absolutely not.

Almost never.

Unless you're taking the exact same drugs.

Exactly.

And the exact same doses, which you're not.

No.

I mean, you're not going to be on the same exact dose and all the same drugs.