One of the many benefits of a Medicare Supplement Plan is the ability to choose among a wide range of prescription drug plans each year through Medicare Part D. This can be a lifesaver for many seniors, ensuring they can afford the cost of their necessary medications.
If you have Medicare — or it’s time for you to sign up — now is the time to research your Part D options. Enrollment each year is Oct. 15 through Dec. 7, with coverage starting Jan. 1.
The Cost of the Wrong Plan
While having so many options for coverage is great, that also means that the cost for choosing the wrong plan can be disastrous.
The most egregious example I’ve witnessed of this problem happened a few years ago.
A gentleman who had a policy with a well known Florida insurance company (I won’t call out names) was referred to me because he desperately needed help. He was paying $3,000 each year for his medications and premium costs.
After I did a quick computer search, I discovered he could get the same benefits through a different Medicare Part D plan for only $500 per year!
He could use his same pharmacy, receive the same medications — not change his life in the least — and pay only $500 total a year.
The really painful part? He’d been on Medicare for 5 years! He unnecessarily threw away $12,500 simply because he didn’t use the right agent.
How We Help Our Clients Navigate Part D Options
Our agency operates differently by focusing on what’s best for each client.
Every year, we send out an email to our Medicare clients, reminding them of the Part D open enrollment period with explicit instructions on how to choose their plan on the Medicare.gov website. If they need help, they just email us, and we’ll help them find the right plan.
Most insurance agents don’t help their clients choose a plan every year because it’s a time-intensive process. We do it because it’s the right thing to do. That’s why the enrollment period is a busy time for us!
Our level of service is the reason we continue to receive referrals from happy clients, year after year.
Changes in Part D for 2025
Our agency also makes sure we’re well versed on all changes to Medicare Part D plans.
For instance, for this upcoming 2025 insurance year, the federal government has announced that the most individuals can spend on medications during the year at the pharmacy will be capped at $2,000.
Unfortunately, for every good intention, there is a consequence. As such, many monthly premiums for Part D are going up. While this change helps people who take very expensive medications, it unfortunately could hurt some who take inexpensive medications.
However it affects you, we will help you wade through changes to assess which plan makes the most sense for your circumstances. Finally, if you do your research and decide to remain on the same plan, no action is required. You will be automatically renewed.
Get Enrolled in the Right Plan!
It’s important to us to know that our clients will have affordable access to prescriptions all year long. We believe — like you do — that your health is your most important asset.
Give us a call at 954-775-0275 today and set up an appointment to pick your perfect plan.
Mario Bick
Mario Bick is the founder and President of Bick Insurance Consultants. As a former practicing attorney, Mario believes in representing his client first and foremost. His legal and financial background uniquely allows him to plan and communicate with other trusted advisors such as tax attorneys, estate planning attorneys, accountants, and human resource executives. As an independent agent, he is able to utilize the latest concepts and products in the industry to customize an insurance portfolio to meet the needs of every client.
