Ask Terry Questions Medicare Part D Plans change prices mid-year?

Medicare Part D Plans change prices mid-year?

By Terry Savage on November 24, 2019 | Wild Card

I have had the experience of selecting a Part D plan and then finding out with my first prescription
in January of the new plan year that the medication price is not what was quoted the previous Fall!
Pharmacy told me the price went up Jan.1st! Same story last week: no guarantee that the price of meds couldn’t go up anytime during the plan year! Don’t like it, you can cancel the plan!
What is the point to selecting a plan if the prices don’t hold?

Terry Says

You make a very good point — and this sometimes does happen. And it is reflected in the “satisfaction” stars on the Medicare Plan Finder. That’s why you also want to read the review of the plans — and list a complaint on the site if it happens to you. But aside from having to add meds during the year — this issue of plans changing coverage mid-year is a troubling fact of life!
Sometimes it happens because the drug manufacturer raises prices, or sometimes it happens when a new generic is approved.
Please click on this link and read this article to learn more about this issue.



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finance question