Comparing Medicare prescription drug plans paid big dividends for retirees using Via Benefits’ services
Via Benefits’ Coverage Checkup saved retirees over $50 million in last 5 years
SOUTH JORDAN, UTAH, March 20, 2023 — Shopping for and comparing Medicare prescription drug plans has saved retirees using Via Benefits’ Coverage Checkup, its Medicare Advantage Prescription Drug (MAPD) and Part D prescription drug price comparison tool, over $50 million over the past five years.
Launched in 2017, Coverage Checkup is an important annual enrollment tool for retirees who use Via Benefits. It gives them the ability to understand how their current plan compares to new plans being offered in the marketplace and the flexibility to change their plan easily. Coverage Checkup is just one of several advocacy services Via Benefits offers.
Coverage Checkup compares the retiree’s profile (coverage preferences, current medications, and doctors) against newly available MAPD and Part D prescription drug plans. It then recommends: Staying in your existing plan or choosing a better-fit plan based on the total annual out-of-pocket costs (including premiums, deductibles, and coinsurance) and coverage of the individual’s medications and doctors. With this information, retirees may enroll in the plan that best meets their needs and budget.
Coverage Checkup provides personalized plan evaluations and recommendations. The average recommended savings in 2022 was $1,450.
“Evaluating medical and prescription drug plans is something retirees should do every year to ensure they are in the most cost-effective plan and not overpaying for medication,” said Connie Parson, a Via Benefits member and retiree. “Coverage Checkup enabled me to do just that in as little as two minutes. All retirees need to do is make sure their prescriptions are up to date.”
About Via Benefits by WTW
Via Benefits empowers retirees with confidence and peace of mind by providing a human-focused approach to healthcare coverage. Our powerful proprietary digital tools and extensive expertise ensure retirees have the knowledge needed to make informed decisions. Every step of the way, year after year, we’re here with empathy, insight, and answers. It’s how we turn the process of selecting, enrolling, and maintaining right-fit coverage into a simplified, enjoyable experience.