Stand Alone Drug Plans vs Advantage Plan Drug Costs. Prescription Drug Plans are available as stand alone Part D or as part of a Medicare Advantage Plan. Drug plan premium is not the only consideration. You must also consider co-pays.

TOTAL COST IS KING! (Premium + Co-pays)

More Premium ≠ Better:  Paying a higher premium does not necessarily mean you will get better Part D drug coverage. There are more than 25 different drug plans available. What is your best value? (Premiums + co-pays)

We also have discovered that prescription drugs might be available for a lower cost than your insurance offers. Cash Price is a Consideration – Costco, Sam’s Club, Good RX, etc. Drug plan formularies change annually. You should be aware of this as it might affect what you pay for the coming year.

The Medicare Income Related Monthly Adjustment Amount (IRMAA) is an amount you might have to pay in addition to your Part B premium if your income is above a certain level. Adjustments (these income-related taxes) apply to Stand Alone Part D plans and ALSO Part D coverage included in a Medicare Advantage Plan.

We might be able to help you plan to minimize or avoid these taxes.