I was amazed to find plans that offered both drug and supplemental coverage for $0.00 monthly premium. I have been paying Blue Shield $178 per month for my Part B coverage and Advantrax $25 per month for drug coverage. The Medicare website showed me that next year Advantrax would charge me $41 per month plus add a $100 deductible. I don’t know what my Blue Shield payment will be, but I’m sure it will be more.

Before I turned 65, I was covered by Blue Shield for my medical insurance. As I approached 65, their sales representative sold me on one of their plans. According to my records, I initially paid, in 2002, about $85 per month. The amount rose steadily to the present $178 per month.

I called one of the zero-premium plans and asked if it is really had a zero premium, and how could this be. Perhaps you are like me and don’t understand that everyone who elects Part B coverage already pays $96.40 per month (deducted automatically from one’s Social Security payment). The representative explained that the government paid this amount to their plan to cover its costs.

I have now signed up for a zero-premium plan that covers provides both supplemental and drug coverage. I can go to any doctor (not just a doctor in the Blue network) that accepts their reimbursement schedule. Most, including my regular doctor do. I will fill my prescriptions at my regular pharmacy as before.

What do I lose by moving to the zero-premium plan? I now must copay $15 per office visit ($35 for specialists), whereas after the deductible, I paid nothing under my Blue Shield plan. It would be unusual if I had one doctor visit per month (annual physicals and flu-shot visits have no copay). If I did have a visit a month, I would copay $180 during the year. Otherwise, there are no extra costs that I can see. The drug copay is $5 for generic prescriptions, which are all that I have, and this is essentially the same as the plan that I am leaving. The hospitalization benefit is actually a bit better, because under the new plan, I pay $275 per day up to 6 days, rather than a flat $1068 upon hospital entry, with no cost thereafter.

I expect that I will save about $2,400 in 2010 because I took the time to review the alternatives: 12x($178+$41) – $180 = $2448.

If you haven’t already done so, find out your potential savings at the Medicare website for comparing plans.

My experience is more strong evidence of the need for a universal coverage national health plan. I am both an economist and a skilled analyst; yet over the years I clearly paid thousands of dollars more than needed for insurance coverage.  If I am being “bilked” by the confusing array of insurance choices, how much worse off is the average consumer who likely buys what the insurance salesman recommends?

You must do this before December 31 or wait until next December.

Medicare maintains a website that lets you easily compare plans in terms of costs and customer satisfaction. It is completely simple. Put in all the prescription drugs you use regularly, and the site will show you the comparative cost under the available plans.

Check it out if you have or are eligible for Medicare Part D.

I saved over $400 dollars by doing this last year.

Below is what I found and told about in a post in December 2008:

Check Your Medicare Drug Plan Costs!

In 2007, I researched the costs of alternative Medicare Part D (drug coverage) plans. I found that Humana, which is somehow related to Walmart, offered by far the best deal for me. I take only one common generic drug regularly.

The Humana plan cost $15.70 per month, with $265 deductible, and 25% copay beyond that up to the "hole."

In 2008, the monthly cost went to $23.00 and the deductible to $275. I was shocked by the increase in monthly fee of nearly 50%. I thought, "This is the old lowball, and then sock- it-to-them tactic." However, I recalled that other plans I’d look at in 2007 were in the $20+ range; so I did nothing.

I just got a notice that my monthly cost for 2009 was going to $40.90! The deductible to $295. As my drug cost about $26 per month at the pharmacy, I was going to end up paying $790 for the year.

I thought, time to comparison shop again. I found shockingly different costs for Medicare approved drug plans. Annual cost to me for the plans plus out-of-pocket pharmacy costs ranged from $367 to $1672!!!

I ended up choosing one that will cost $402 using a local pharmacy or $366 if I use a mail order pharmacy, a savings of $388 to $424. The plan I chose had better customer ratings than the lowest cost plan.

Depending on your drug use, you may have chosen (if you are already enrolled) a different level of coverage, and the best plan for you will be different, but it is worth doing annual shopping.

You can change your plan once a year — and the window for changing it is open now until December 31.

Medicare maintains a website that lets you easily compare plans in terms of costs and customer satisfaction.

Check it out if you have or are eligible for Medicare Part D.

You will help others if you report back here in a comment the savings that you found by comparison shopping.

Medicare maintains a website that lets you easily compare plans in terms of costs and customer satisfaction. It is completely simple. Put in all the prescription drugs you use regularly, and the site will show you the comparative cost under the available plans.

Check it out if you have or are eligible for Medicare Part D. I saved over $400 dollars by doing this last year.

Below is what I found and told about in a post in December 2008:

Check Your Medicare Drug Plan Costs!

In 2007, I researched the costs of alternative Medicare Part D (drug coverage) plans. I found that Humana, which is somehow related to Walmart, offered by far the best deal for me. I take only one common generic drug regularly.

The Humana plan cost $15.70 per month, with $265 deductible, and 25% copay beyond that up to the "hole."

In 2008, the monthly cost went to $23.00 and the deductible to $275. I was shocked by the increase in monthly fee of nearly 50%. I thought, "This is the old lowball, and then sock- it-to-them tactic." However, I recalled that other plans I’d look at in 2007 were in the $20+ range; so I did nothing.

I just got a notice that my monthly cost for 2009 was going to $40.90! The deductible to $295. As my drug cost about $26 per month at the pharmacy, I was going to end up paying $790 for the year.

I thought, time to comparison shop again. I found shockingly different costs for Medicare approved drug plans. Annual cost to me for the plans plus out-of-pocket pharmacy costs ranged from $367 to $1672!!!

I ended up choosing one that will cost $402 using a local pharmacy or $366 if I use a mail order pharmacy, a savings of $388 to $424. The plan I chose had better customer ratings than the lowest cost plan.

Depending on your drug use, you may have chosen (if you are already enrolled) a different level of coverage, and the best plan for you will be different, but it is worth doing annual shopping.

You can change your plan once a year — and the window for changing it is open now until December 31.

Medicare maintains a website that lets you easily compare plans in terms of costs and customer satisfaction.

Check it out if you have or are eligible for Medicare Part D.

You will help others if you report back here in a comment the savings that you found by comparison shopping.