With the fourth episode of the Surviving Healthcare podcast, we will continue the discussion of Medicare that began with episode three. This time, I get to the bottom of key issues surrounding Medicare Part D with my guest, Brent Leavitt. Mr. Leavitt is a health insurance advisor with Nevada Benefits Corporation, a Las Vegas brokerage that specializes in educating people and guiding them into the right healthcare coverage for their needs. He is an acknowledged expert on Part D.
Listeners will learn which criteria are essential to choosing the right Part D plan, including coverage costs. There is also information on how to save by using the information readily available at the Medicare.gov website. We also have an in-depth discussion about the infamous "donut hole," which can have a significant impact on what people pay for prescription drugs. All three phases of the donut hole are discussed in detail:
· The initial phase, which the patient must pay out-of-pocket.
· The initial coverage phase, which is when the insurance kicks in and Medicare pays some of the costs.
· The catastrophic phase, which is for people who need a lot of medications to maintain their health.
Mr. Leavitt explains why there are different phases and why some drugs are treated as more important than others. It's important to keep in touch with the insurance company and to know where you are with regard to the donut hole. There are also some practical recommendations for avoiding high drug costs, including:
· Buy generics where available
· Ask doctor for samples…
· Google for drug coupons.
· Ask pharmacists for additional discounts.
He also explains hardship discounts, including a program through the Social Security Administration called "Extra Help,” which can assist with paying for medications.
We also discuss the most common mistakes made when signing up for Part D, as well as the key things to know to navigate the system efficiently and get the best coverage. For example, plans vary from state to state, so if you move, you will probably have to change plans.
To read more about this episode or check out other guests and topics, visit surivivinghealthcarepodcast.com
