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Medicare Part D Enrollment Tips
Updated
10 November, 2011
Also see a step-by-step
process for
Where Do I Start with Part D? , and
Part D Guidelines
Medicare
beneficiaries who are just enrolling in Part D for
the first time, need to compare all the plans, to
determine which ones cover the correct medications,
and which provide them for the best price.
Medicare beneficiaries who are
enrolled in a Medicare prescription drug plan should
examine their coverage to ensure it continues to
meet their needs. Seniors and other Medicare
beneficiaries who are satisfied with their current
plan do not have to take any action during the
open-enrollment period (October 15-December 7, 2011),
but those who wish to make a change must begin to
research the options now. You may find that you
could save a great deal of money, and more
completely cover the medications you need, by
changing plans. This is the time to begin to
consider that.
Know your three Cs. Consider
the following when making a decision:
Coverage
-
Does the
plan cover your medicines?
-
Does the plan
have a coverage gap?
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Do you need more
comprehensive coverage in 2009?
Cost
Does the plan have a deductible?
How does the plan handle
co-payments?
Convenience
Does the plan
have a mail-order option?
For help answering these questions
and finding the right plan, seniors and other
Medicare beneficiaries can turn to the SeniorArk.com
prescription drug plan finder, available at
prescription-drug-plan finder.
This is a totally free service we have developed for
our readers, to help then sift through the maze of
part D choices. Some plans cover certain medications
and dollar totals, and others do not. Seniors need
to pick the right plan, that covers the right
medicines, with the right coverage totals.
Estimate your annual drug
costs. Most
seniors will not spend enough on their medications
to reach the coverage gap. If a beneficiary’s total
drug spending in 2012 is less than $2,930 there
likely is no need to select a plan with gap
coverage. However, beneficiaries with higher drug
costs may want to consider one of several plans
available in each state for 2012 that will cover the
gap. Seniors may also need to find a plan that fills
the gap if they anticipate they will need more
medications in 2012.
Enroll early.
Open enrollment for coverage in 2012 continues
through December 7. Open enrollment in prior years
was a different period, but this year is from
October 15 through December 7, 2011. When it ended
on December 31, there was often confusion for those
who needed care in early January. This gives your
choices time to get firmly into place by January 1,
2012.
Don’t cancel your existing
plan. Seniors and others
intending to switch to a new Part D plan should not
cancel their existing plan.
Enrollment in a new plan
will automatically terminate a beneficiary’s current
coverage.
Apply for extra help.
Additional assistance is available to low-income
seniors who have trouble affording their
out-of-pocket costs. According to federal health
officials, over 3 million Medicare beneficiaries
nationwide were eligible for the low-income subsidy
this year but didn’t apply. For information, visit
your local Social Security office or call
1-800-772-1213.
You may also want to read:
Part D Fiasco - Congress Can Do Better, , Part
D Charts,
All about Part D and Medicare,
Survive a Fall into the Doughnut Hole
Our
main Medicare Page, linking to additional resources
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