How to Compare Medicare Prescription Plans

Medicare's prescription drug coverage, known as Part D, can offer comprehensive drug coverage at an affordable price if you pick the right plan. However, not everyone puts in the time and research before picking a plan. They may find themselves at the pharmacy with some of their drugs uncovered. You can select the right Part D plan for yourself once you know what to look for and where to look.

Instructions

• 1

  Write down the name of all prescriptions you take, the dosage and the frequency at which you take them. Also, note the pharmacies that you prefer to use. Keep this piece of paper handy.

• 2

  Use the Medicare.gov Plan Finder tool. You can find this by going to Medicare.gov, and clicking “Health & Drug Plans” and then clicking “Compare Drug and Health Plans & Medigap Policies.” This will take you to the Medicare Plan Finder tool home page.

  The Plan Finder tool will give you the opportunity to input customizable information so you can get a list of Part D plans available in your area. Once you start the Plan Finder tool, enter the information it asks for. It will ask for information about your location, the drugs that you take and the pharmacies that you prefer to use.

• 3

  Compare the plans using the Plan Finder tool. Once you finish answering all of the tool's questions, you will be taken to a page that lists all of the Part D plans available in your area, with estimated prices. You can compare the plans side by side by clicking the box on the left of the plan's name and then clicking “Compare Plans.”

• 4

  Call the plans directly. Calling the plans directly gives you a chance to confirm the information you received from the Plan Finder, and it gives you a chance to rate the plan's customer service. You will want to make sure that they cover every single drug you take. You will want to ask further that they cover your drug without restrictions. Ask if any of your drugs require prior authorization, step therapy (which is when they require you to try cheaper drugs first) or quantity limits (they will cover it, but only 30 pills a month, and you may need 60).