It’s Time to Enroll: 4 Signs You Need a New Medicare Part D Drug Plan

Medicare Part D is an important part of your health insurance for seniors. But the drug plan you’re currently signing up for isn’t necessarily the plan you’ll stick with for life.

Each year, Medicare participants have the opportunity to make changes to their coverage during the program’s annual open enrollment, which begins October 15 and ends December 7. Finding a new Part D drug plan can be somewhat time-consuming. consumptive, so here are a few signs that it might be worth changing your prescription coverage.

1. Your medications are becoming more expensive

Medicare Part D plans use formularies to group medications into different tiers, and each tier has associated costs. Your prescriptions may be upgraded to a higher level for 2025. If this results in higher out-of-pocket costs, it’s worth shopping for a new plan and seeing if there’s one that lets you pay less out of pocket.

The good news is that Medicare’s Plan Finder tool helps you narrow down your choices based on your actual prescriptions. You will be asked to enter the names, dosages, quantities and frequencies of the medications you are taking. From there, you can see what your actual drug costs look like on different plans so you can make an informed decision.

2. You are taking new medications

Your doctor may want to start you on a new medication in the new year. This is a good reason to consider switching to Part D.

Your current medication plan may place your new medication in a favorable tier. However, it’s important to at least compare your options and see if another plan is a better fit.

3. You have stopped taking certain medications

It’s not uncommon to choose a Part D plan based on your prescription costs under that plan. However, if you have stopped taking certain medications, it is worth looking to see if there is a more cost-effective option based on your remaining prescription supply.

You may have paid a slightly higher premium for your Part D coverage in exchange for lower out-of-pocket costs. If these copays no longer come into play, you might do better with a different plan.

4. You have difficulty finding in-network pharmacies

It is common for Part D plans to require participants to fill their prescriptions at in-network pharmacies. Using an out-of-network pharmacy can result in higher costs — and in some cases, result in your medications not being covered by insurance at all.

If you’re having trouble finding easy-to-reach in-network pharmacies, consider looking for another Part D plan for 2025. You don’t want to risk missing doses because you weren’t able to fill your prescriptions in time.

The idea of ​​signing up for a new Medicare Part D plan may not excite you, but it’s an important step to take. Changing your plans for 2025 could not only mean you spend less on medications, but also make those prescriptions easier to fill.