Are You Paying Too Much for Your Prescription Drugs?
Updated: Oct 6, 2022
Now that the dust has (mostly) settled after Medicare’s Annual Enrollment Period, we would like to share some interesting information. You’ve read before on this blog about how important it is for Medicare beneficiaries to take a look at their drug coverage during each year’s Annual Enrollment Period to make sure they’re getting the best deal.
If you’re still not convinced that it’s worth the time or effort to investigate your current coverage and possibly switch plans, consider what our Medicare Specialist Joshua Hunter was able to do for Takacs McGinnis clients during this most recent Annual Enrollment Period.
Thanks to Joshua Hunter’s expert guidance:
64 Takacs McGinnis clients ended up changing their drug plans.
Those 64 Takacs McGinnis clients saved a total of $165,077. (No, that’s not a typo.)
The average savings per client was $2,579.32.
The largest savings Joshua was able to get for a client was $19,958. That’s just for one year.
More than half of the 64 clients saved over $900.
31 of 64 saved over $1,000.
Only 3 saved less than $100.
75% saved more than $500.
If these numbers prove anything, they underscore how important it is to compare plans every single year. If you don’t, you could be paying way more than you necessary for your own or an elderly loved one’s medications.
Medicare drug coverage can seem a lot like a shell game. You never know when costs will go up with your plan. For many reasons, such as fear of making a wrong move and misplaced loyalty to the status quo, many people cling to their current plan like a drowning person clings to a life preserver. That’s why working with an experienced professional like Joshua Hunter can be so valuable. It gives you the confidence to change plans when it’s in your financial best interest to do so.
If you want to learn more about getting the best deal on Medicare drug coverage in particular (or managing a loved one’s long-term care journey in general), just give our office a call at (615) 824-2571.