When you enroll in a Medicare Advantage plan you’ll have the option to choose one with Rx or enroll in a stand-alone prescription drug plan. Here’s how you decide.
MA plus Rx vs. Stand-Alone Rx
Most Medicare Advantage plans bundle Rx into your coverage, however you may want to go with a stand-alone plan if your prescription drugs are not in the plan’s formulary (list of drugs the plan covers). If you go with a Medicare Advantage plan with a drug plan included you pay one monthly premium for all of your Part A, Part B, and Rx costs. The entire monthly premium for all three may be less than the cost for just the stand-alone plan. With that said, a stand-alone Rx plan could actually save you money if your prescription drugs costs less on the stand-alone plan than the bundled Medicare Advantage plan.
For help deciding between a Medicare Advantage with or without prescription drug coverage call the number above or contact Senior65.com.