Please be advised of some changes to the Medicare Prescription Compliance effective 10/1/2022.
Medicare has instituted a new rule where agents are required to record all phone calls and retain the recordings for 10 years. This requirement is in addition to retaining the paperwork for 10 years. Over the past few years, Seiden Benefits has serviced our clients with this product, however, with the multiple layers of compliance, annual testing from each insurance carrier, and the compensation for a Part D policy of $40 annually prevents us from continuing annual prescription evaluations.
Where Can You Get Part D Prescription Assistance in The Future?
Medicare is encouraging beneficiaries to call 1-800-Medicare and has representatives on call to help evaluate your medications and prescription plan options available in your area.
To obtain an annual evaluation, call 1-800-MEDICARE.
Plan options open 10/1/2022.
Go to https://www.medicare.gov/ and enter in your medications and the system will provide you with your options and costs.
Seiden Benefits will continue to help setup clients and educate individuals when they make the transition to Medicare. This change applies to annual reviews during open enrollment.
- Throughout the year, I receive calls about the costs of medications and billing for premiums. Below are a few ways to save on prescription costs and ensure premiums are paid in a timely manner to avoid cancellation:
- Use your insurance company’s preferred pharmacy
- Use mail order services
- Check online services such as: goodrx.com, wellrx.com, scriptsave.com
- Setup auto debit from your checking, savings account or social security monthly benefit.
Lastly, at this time of year you will see many commercials offering to provide you with a health plan for low or $0 premium with dental, vision etc. Please be aware: These health plans are Medicare Advantage plans (Part C) and often have a very high out-of-pocket maximum of $6000+ per year and your choice of doctors is smaller than traditional Medicare.
Please contact us if you have any questions or concerns.