Man in bathrobe with medication in paper cup

How Medicare Beneficiaries Can Save Money on Prescription Drugs

Tips on finding the best Medicare drug plan—and getting the most from it.

Man in bathrobe with medication in paper cup
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Extend Health, owned by HR-consulting firm Towers Watson, entered the consumer market during the last Medicare enrollment period, but the company has been helping seniors find drug plans for about eight years through its relationships with employers. Extend Health has partnered with Fortune 500 companies, including Chrysler and General Motors, to reach employees. If you belong to a company that works with Extend Health, your employer may mandate that you work only with this broker.

The process is simple, though. Retirees receive a mailer, which asks them to select a date and time that they would like an adviser to call them. They can also go through the process online, and can compare up to five plans against one another. The company invests heavily in setting up people with brokers over the phone. The conversations will last an average of 23 minutes, says Williams, adding that seniors generally prefer to complete these enrollments over the phone.

Keep in mind that agents from PlanPrescriber or Extend Health may call you about their product offerings if you enter your personal information in their websites.

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