Are 50¢ Medicare Part D Premiums Too Good to Be True? In this video, Marcia Mantell, RMA, NSSA, president of Mantell Retirement Consulting joins Zack Carter from Retirement Daily to dicsuss how some Medicare Part D plans have significantly reduced their premiums for 2024, with one plan offering a shockingly low monthly cost of 50 cents. This dramatic change is likely due to insurer strategies to attract new customers in a rapidly evolving market. While enticing, these low premiums often come with high deductibles and potentially limited customer service. Seniors are urged to use the Medicare Plan Finder tool to compare plans based on their specific needs and medications, not just the headline price. Remember, annual review of Part D plans is crucial due to frequent changes and potential savings opportunities.

Key Points for Are 50¢ Medicare Part D Premiums Too Good to Be True?

Wellcare Value Script plan offers a 50-cent monthly premium in some areas, but requires the full $545 deductible.

SilverScript SmartSaver premiums have increased but remain lower than Wellcare’s, with a reduced maximum deductible.

Consider factors like out-of-pocket costs, customer service, and individual drug needs before switching plans.

Utilize Medicare.gov tools and stay informed about changes in the Part D landscape.

Watch this video to answer the question “Are 50¢ Medicare Part D Premiums Too Good to Be True?” and find more free videos on FinStream TV featuring Marcia Mantell at this link: https://www.finstream.tv/featured/marcia-mantell/