Affording Prescription Drug Plans

When you become eligible for Medicare, we recommend that you enroll in Part D Prescription Drug coverage. Many Part D plans can help alleviate the costs of your medications; however, we understand that for some people, the cost of a plan as well as the medication costs can be expensive. Before rejecting a part D plan outright, we suggest that you investigate whether you qualify for Extra Help through the Medicare and Medicaid Programs.

Typically, individuals or couples who qualify for Extra Help must meet the following criteria:

Extra help table
*Resources: checking and savings accounts, stocks, bonds, mutual funds, and IRA

Extra Help will:

• Assist you with PDP premiums, yearly deductibles, coinsurance, and copayments
• Eliminate the coverage gap, or “donut hole”
• Eliminate the late enrollment penalty
• Allow you to change your Part D plan at anytime

If you are already receiving Medicaid, you are automatically eligible for Extra Help. If you do not automatically qualify for Extra Help, you may apply at any time by:

• Calling your Social Security Office
• Calling your local Medicaid Office
• Visiting www.ssa.gov/extrahelp and clicking on “see if you qualify for extra help and apply” or follow this link

Once you have received this notification of eligibility, provide this to your plan so you can avoid paying higher costs.

Typically, you can expect generic drugs to cost $2.95 (2016) and brand name drugs to cost $7.40 (2016). However, be mindful that the types of medications that are covered will vary from plan to plan. Our agents can also assist you with researching a drug plan best suited to your needs.

What if I am not eligible for Extra Help?

Even if you do not qualify for Extra Help, we understand that the costs of medications may be steep. Medicare recommends looking into the following options:

• Speak to your doctor about generic alternatives or cheaper brand name options
• Choose mail order options for your medications
• Speak with the drug company that makes your medication and see if they offer discounts or coupons
• Work with your agent to find a more affordable drug plan

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Regardless of whether you purchase a policy or not, we are always happy to help in any way we can.

Client Testimonials

Affording Prescription Drug Plans

  • "This is a family-owned business who cares about their potential clients. I was looking for help with health insurance and even though it turns out I don't need new health insurance at this time, I feel compelled to write a review because of how thorough Brendan was. He was very knowledgeable and easy-going. He didn't seem pushy at all and listened to everything I had to say. He made sure he was getting all the information correct. I would recommend this agency for any insurance needs." - Doug C.
  • "I sought help from Wooten Agency; Ed, along with Nancy, took the bull by the horns and sorted things out for us very quickly. Shortly thereafter Ginny took over. She is definitely most qualified as a plan selector for Medicare plans and issues related to Medicare. My appreciation to Crystal for the gracious way she always responds to telephone calls and makes every effort to ensure one is not forgotten. And Dana....the one contact we had was enough to find out you are similarly inclined to help a client." - Frank V.
  • "You [Aaron] have been so helpful, and you have all taken a personal interest in my individual and specific questions in order to make the best insurance choices for my needs. Thank you all! I look forward to working together in the future months and years." - Susan H.

Wooten Agency