What is the Cheapest Part D Plan in California?

This is actually not a bad strategy as we'll see below.

The so-called "Placeholder" plan.

RX medication is more important than ever these days (have you seen the latest costs...$100's or $1000's per month) but we'll look at how the product has really become a commodity.

Combine that with the fact that we can change plans end of each year regardless of health and this works towards our goal of saving on Part D.

We have a big review on how to save on Part D but our goal here is simple...what is the cheapest Part D plan on the California market?

First, our reviews:

This is what we'll cover so you can make the best decision:

• Understanding why cheap Part D isn't bad
• What is the cheapest Part D plan in California
• Avoiding the penalty with a "placeholder" Part D plan
• How to quote and apply for an affordable Part D plan

Let's get started!

Understanding why cheap Part D isn't bad

First, a quick intro.

Part D refers to a plan that covers medication costs for Medicare. Most Advantage plans already cover Part D (you can quote those here...some have zero premium). A separate Part D plan is needed with just Medicare or a supplement

Here's the issue...there's a penalty of 1%/month (growing) for each month you don't enroll in Part D when eligible.

In 10 months, that's 10%!

We want to avoid this but for many people with low/no medication costs, they want to keep the monthly premium to a minimum.

There's a huge cost spread on the market though between different Part D plans.

What exactly are we getting with each bump up?

We run these quotes all day long and it's really questionable! Even when we enter many medications, the cost spread can be significant even with all the medications covered.

For example, a sample quote in Los Angeles runs from $0 to $100's a month!

We included:

• Atorvastatin
• Losartan
• Metoprolol
• Metformin

Sound familiar??

CVS was the chosen pharmacy.

This result mirrors what we keep seeing across the State.

HealthSpring (Cigna before) covers the meds and most importantly, has the lowest total estimated cost.

Our savings on medication costs is way higher than our premium to have the plan (zero in 2024 in most areas).

So...is this the cheapest Part D plan currently and how are they able to do this?

What is the cheapest Part D plan in California

In many areas, HealthSpring at zero premium/month is going to be the cheapest Part D plan.

You can quickly run your free quote here:

So...you've been on this Earth for 65+ years and you're probably wondering...

"What gives?? How can they offer RX coverage for no premium"

When we run the quotes for people, they generally reply back that they question that rate.

Here's the deal...Medicare is picking up a big part of the bill just like they do with medical.

Think of it a like an 80/20 plan where Medicare is picking up 80% of the costs and the Part D carrier is picking up the 20%.

That's how the rate can be so low! It makes you wonder why the other carriers are charging upwards of $100/month and they both cover the same meds and pharmacies.

Granted, we'll run a quote for someone with 10+ meds, some of which are very expensive.

Occasionally in these cases, another plan will pop up as lowest "Total Estimated Cost" above the lowest priced plan. Aetna's SilverScripts does well generally.

But...if you're asking about the cheapest Part D plan in California, that's probably not your situation.

In this case, the HealthSpring or Wellcare plan is really hard to beat (for now). For that reason, many people use it like a "placeholder" plan.

Avoiding the penalty with a "placeholder" Part D plan

We'll help people that tell us, "I'm not going to sign up for Part D now...I'll do it at open enrollment."

We explain to them two points:

• The penalty for not enrolling is 1%...per month!
• We can get a pretty good Part D plan for no premium

They usually think the cost will be $40+ month and want to put it off. We just let them know about the Wellcare plan so they at least have some protection.

Here's why...

Health can change and RX costs can go up to $1000/year pretty quickly!

"I'm Healthy" is a common refrain but have you noticed all the heart and cancer issues out there in the last few years!

Don't fight this trend:

Having the cheaper plan protects you from the penalty that just keeps growing as well and it's under a dollar!

One other note...you can always get an Advantage plan that covers Part D and many times, the premium can be zero depending on the area.

So...what about your area and costs for the cheapest Part D plan?

How to quote and apply for an affordable Part D plan

We make this free, fast, and instant:

A few notes to get the cheapest Part D rates:

• Enter all your medications and dosages
• Enter your preferred pharmacy
• Sort by "Total Estimated Cost" (very important...takes into account premium AND out of pocket)

You'll then see the plans according to your cost and we won't be surprised which plan rises to the top!

Make sure to sort by "total estimate cost" at the top.

You can apply right through the quote system and we're happy to help with any questions.

Learn how to save on Part D as well.

Reach out with any questions at help@calhealth.net or chat with us here.