medicare mini course day five graduation day so  we've made it through the basic parts of medicare  
medicare mini course day five graduation day so  we've made it through the basic parts of medicare  

hopefully you've watched the other parts of the  mini course and we're trying to piece everything  
hopefully you've watched the other parts of the  mini course and we're trying to piece everything  

together as easy as we can so i'm gonna keep  everything simple right now we're going to talk  
together as easy as we can so i'm gonna keep  everything simple right now we're going to talk  

about medicare drug plans and medicare drug plans  i could do an entire mini-course on they are more  
about medicare drug plans and medicare drug plans  i could do an entire mini-course on they are more  

complicated than the other pieces of medicare but  we're going to try and keep it as simple because  
complicated than the other pieces of medicare but  we're going to try and keep it as simple because  

it's important to understand how they work so  that we know how to get what's going to work  
it's important to understand how they work so  that we know how to get what's going to work  

for us so i'm keith armbruck founder of medicare  on video and i help people across the country  
for us so i'm keith armbruck founder of medicare  on video and i help people across the country  

make the right medicare choices i can absolutely  help you as well hopefully you'll allow me to  
make the right medicare choices i can absolutely  help you as well hopefully you'll allow me to  

help you there's no cost to use my services and  that's how i make my living helping with medicare  
help you there's no cost to use my services and  that's how i make my living helping with medicare  

supplement plans so i'm going to go through this  right now and show you exactly what you need to  
supplement plans so i'm going to go through this  right now and show you exactly what you need to  

know about medicare part d something else you  will find helpful if you're coming into medicare  
know about medicare part d something else you  will find helpful if you're coming into medicare  

or even if you're already there is a copy of my  book medicare made clear i put a lot of time and  
or even if you're already there is a copy of my  book medicare made clear i put a lot of time and  

effort into this book and i'm giving it away for  free so you can see here it covers just about  
effort into this book and i'm giving it away for  free so you can see here it covers just about  

every piece of medicare it even has videos in the  book where i explain everything it has all the  
every piece of medicare it even has videos in the  book where i explain everything it has all the  

links on where to get the things you need and how  to sign up things like that so take just a minute  
links on where to get the things you need and how  to sign up things like that so take just a minute  

medicare on video dot com forward slash free  book you can download it right now and it's  
medicare on video dot com forward slash free  book you can download it right now and it's  

yours to keep i hope you find it very helpful  medicare part d drug plans one of the things  
yours to keep i hope you find it very helpful  medicare part d drug plans one of the things  

they actually lined up with the letter is d is  for drug plans so is it mandatory and the answer  
they actually lined up with the letter is d is  for drug plans so is it mandatory and the answer  

is no you do not have to have a drug plan however  if you don't get one when you're first eligible  
is no you do not have to have a drug plan however  if you don't get one when you're first eligible  

and then you want to get one later you can it's a  little complicated but there's also a penalty but  
and then you want to get one later you can it's a  little complicated but there's also a penalty but  

it's always kind of a tough choice if  you don't take any prescription drugs  
it's always kind of a tough choice if  you don't take any prescription drugs  

currently should you buy a medicare drug  plan and there are different opinions on that  
currently should you buy a medicare drug  plan and there are different opinions on that  

i likely would not even though there's a penalty  later you likely will save more in premium  
i likely would not even though there's a penalty  later you likely will save more in premium  

when you don't need it than what the penalty is  going to cost you down the road if you do need it  
when you don't need it than what the penalty is  going to cost you down the road if you do need it  

so that's a whole different conversation  but just important to understand most  
so that's a whole different conversation  but just important to understand most  

people do get it when they first come into  medicare and you get a very low cost one  
people do get it when they first come into  medicare and you get a very low cost one  

if you're worried about a penalty later even  if you don't take prescription drugs now  
if you're worried about a penalty later even  if you don't take prescription drugs now  

so it's important to understand that so  how much does a medicare drug plan cost  
so it's important to understand that so  how much does a medicare drug plan cost  

and again premium can be as low as 750 a month  however that's not going to cover a whole lot of  
and again premium can be as low as 750 a month  however that's not going to cover a whole lot of  

prescription drugs that might be one if you're  worried about the penalty later and you want to  
prescription drugs that might be one if you're  worried about the penalty later and you want to  

just have one now but the typical kind of standard  medicare drug plan probably going to be about 20  
just have one now but the typical kind of standard  medicare drug plan probably going to be about 20  

25 a month so it's not an outrageous amount it  does have a deductible and then it does have  
25 a month so it's not an outrageous amount it  does have a deductible and then it does have  

tiers and co-insurance levels and again it's more  complicated and we can help you with that and make  
tiers and co-insurance levels and again it's more  complicated and we can help you with that and make  

sure you understand it and make sure we put it  in place correctly and then if we need to change  
sure you understand it and make sure we put it  in place correctly and then if we need to change  

later due to drugs changing then we can do  that as well so right now there is a 480 dollar  
later due to drugs changing then we can do  that as well so right now there is a 480 dollar  

deductible that's a maximum and then there's  tiers one two three four and five you know  
deductible that's a maximum and then there's  tiers one two three four and five you know  

if you've had experience with your regular group  health plan you probably know how a tier one drug  
if you've had experience with your regular group  health plan you probably know how a tier one drug  

works and a tier two drug works you know it goes  up in cost is basically about how it functions so  
works and a tier two drug works you know it goes  up in cost is basically about how it functions so  

the coverage levels under medicare drug plans are  as follows first you have your deductible where  
the coverage levels under medicare drug plans are  as follows first you have your deductible where  

you're going to be responsible for your deductible  before your plan's going to pay and then it put  
you're going to be responsible for your deductible  before your plan's going to pay and then it put  

you into the initial coverage level that's where  most people stay so most people don't ever get  
you into the initial coverage level that's where  most people stay so most people don't ever get  

out of the initial coverage level but if you do  it if you had a lot of drug use during the year  
out of the initial coverage level but if you do  it if you had a lot of drug use during the year  

it might put you into what you heard is the  donut hole where there's a coverage gap and  
it might put you into what you heard is the  donut hole where there's a coverage gap and  

only about 12 percent of the people ever get into  the donut hole but it's not a place you want to be  
only about 12 percent of the people ever get into  the donut hole but it's not a place you want to be  

it's it's certainly less coverage in that donut  hole and then god forbid you're taking you know  
it's it's certainly less coverage in that donut  hole and then god forbid you're taking you know  

massive amount of drugs during the year you  might reach the catastrophic level where things  
massive amount of drugs during the year you  might reach the catastrophic level where things  

kind of come back to good coverage but it's  rare only about four people ever get to the  
kind of come back to good coverage but it's  rare only about four people ever get to the  

catastrophic level but you can get there if you're  taking you know cancer medication or something  
catastrophic level but you can get there if you're  taking you know cancer medication or something  

like that so this is something we got to manage  we got to manage medicare part d plans to make  
like that so this is something we got to manage  we got to manage medicare part d plans to make  

sure they keep up with whatever your prescription  drug scenario is so you can change your drug plan  
sure they keep up with whatever your prescription  drug scenario is so you can change your drug plan  

at the end of each year and when to enroll the  initial enrollment period is when you would jump  
at the end of each year and when to enroll the  initial enrollment period is when you would jump  

in so right when you start into medicare  or there is that special enrollment period  
in so right when you start into medicare  or there is that special enrollment period  

where if you enroll after age 65 so if  you're retired you come off a group plan  
where if you enroll after age 65 so if  you're retired you come off a group plan  

that is when you would look to get into your  medicare supplement plan and then when can you  
that is when you would look to get into your  medicare supplement plan and then when can you  

change you can change at the end of each year when  you see all those billion of commercials on tv  
change you can change at the end of each year when  you see all those billion of commercials on tv  

talking about medicare advantage stuff that's also  medicare drug plan open enrollment is when you can  
talking about medicare advantage stuff that's also  medicare drug plan open enrollment is when you can  

change your medicare drug plan you have to make  your choice between october 15th and december 7th  
change your medicare drug plan you have to make  your choice between october 15th and december 7th  

it goes into effect on january 1st this says july  but it's actually january 1st so it's something we  
it goes into effect on january 1st this says july  but it's actually january 1st so it's something we  

got to look at every year to make sure that if  your drugs change that we can change everything  
got to look at every year to make sure that if  your drugs change that we can change everything  

for the better in a drug plan so that kind of  gives you a pretty good overview on medicare  
for the better in a drug plan so that kind of  gives you a pretty good overview on medicare  

drug plans and again graduation day so we're  done with the mini course certainly if you have  
drug plans and again graduation day so we're  done with the mini course certainly if you have  

questions if there's anything that we can do to  help that's what we do is we help with medicare  
questions if there's anything that we can do to  help that's what we do is we help with medicare  

so hope you found this helpful have a fantastic  day hey don't go anywhere these are some of my  
so hope you found this helpful have a fantastic  day hey don't go anywhere these are some of my  

most recent videos right here you can also find  the link right below this video to download  
most recent videos right here you can also find  the link right below this video to download  

my book medicare made clear absolutely  free you can also subscribe to my channel  
my book medicare made clear absolutely  free you can also subscribe to my channel  

right here so please download my book watch some  videos subscribe to the channel have a great day
right here so please download my book watch some  videos subscribe to the channel have a great day