Dale Carter, one of SFL’s guest bloggers, helped her mother transition out of her home to a retirement community.  She created her blog, “Transition Aging Parents,” to share lessons learned from that experience.  She writes about issues, products and services that will aid daughters/sons in helping their aging parents…

Here’s a great resource for seniors and family members with Medicare coverage: “My Medicare Matters.” Sponsored by The National Council on the Aging and the Access to Benefits Coalition, “My Medicare Matters” is a user-friendly portal providing Internet-based educational tools that help those with Medicare Part D assess their coverage options and create a “personalized” comparison of available prescription drug plans. I recently used this tool to review my mother’s current Medicare drug plan.  We were surprised how easy it was to use and how quickly it identified immediate cost savings!

You will find this tool useful:
* To educate yourself on Medicare plans, requirements and terminology
* To determine if you can save money right now on prescriptions with your current Medicare prescription drug plan
* To review and compare drug plan choices during Open Enrollment each year, November 15 through December 31

In preparing to use this tool to generate a “personalized” drug plan comparison, I suggest the following:
1.    If you are unfamiliar with Medicare programs, I recommend a review of Medicare programs and terminology.
a.    Go to http://mymedicarematters.org/
b.    Click on “Learn About Medicare.”
c.    Follow the links on the left hand side.  (Get a grasp of the major concepts. Read the detailed definition for any term you’re unfamiliar with.   Take your time.  There is an incredible amount of information there.)
d.    If you have limited time, pay close attention to “What Medicare Costs” and also “Medicare Savings Program.”  (This includes qualifications for extra help.)
2.    Obtain the personal information you will need to use the tool:  Medicare Number and effective date, date of birth, Zip code, county, name of current drug plan, names of all medications, dosage, and quantity (per month).

Now you’re ready to use the tool. Here are easy-to-follow instructions:
1.    Go to http://mymedicarematters.org/

2.    Click on “Learn About Choosing Plans.”

3.    Click on “7 Simple Steps” on the left hand side and follow the prompts.

4.    “Step 5 – Picking a Plan” is where you will spend most of your time. (Important key concept: the site advises choosing the plan with the lowest overall annual cost.  You may initially think choosing the lowest premium will save you the most. But don’t overlook a high deductible or a potentially large expense when in the coverage gap.)

a.    Print out instructions for using Medicare.gov’s Prescription Drug Plan Finder.  Then click on “Medicare.gov’s Prescription Drug Plan Finder.”
b.    Click on “Find and Compare Plans.”
c.    Click on “Begin Personalized Search.”
d.    Enter required information and follow the prompts to view your current coverage and other prescription plans in your area.
e.    Next, enter all current drugs, dosage and quantity (per month). (Note: Once you have done this entry, you will be given an ID number for the drug list.  Record that number for future reference.)
f.    Now you will view a detailed cost breakdown using your current drug plan, as well as comparable prices through other available drug plans in your area.
g.    This is a key step to immediate cost savings! Click “Lower this Cost” for your current plan.  You will get a list of ways to save on current prescriptions, including suggested alternative drugs. If your doctor believes that the alternative drugs are acceptable, you may be able to begin saving money immediately.
h.    The remaining steps will help you change drug plans (usually during open enrollment).  On your “Personalized Plan List,” click on the “Estimated Annual Cost” and choose “sort.”  Choose up to three plans (including your current plan) to compare and click “compare.”

You now have your “personalized” drug plan comparison.  Print it out and review it carefully.  It contains a tremendous wealth of information.  My mother and I plan to use this tool each and every year during mid-November.  Why?  There may be changes due to congressional or state legislation, changes in prescription plans, and also changes in a person’s financial situation and medications. Prepare now by scheduling a follow-up check on your calendar.