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| Medicare Enrollment Tips |
| Tracey Cousineau |
| 11/07/2007 |
If you
have Medicare, no doubt, you’ve been getting a great deal of information
about all the Medicare drug plans available in 2008.
Open enrollment for Medicare D
prescription plans
begins
November 15th and ends December 31st.
Whether
you already have Medicare drug coverage or are thinking about enrolling
in a Medicare drug plan you should review all the options every year, even if you are “satisfied” with their current
plan.
The drug plans that were available in 2007 will not necessarily remain
the same in 2008. There are several new drug plans, such as the Medicare
Advantage Plans, and the existing drug plans may have changed their
premiums and cost-sharing, drugs on their formulary, and/or the rules
for obtaining those drugs such as prior authorization requirements, step
therapy, and quantity limits.
During open enrollment,
Medicare beneficiaries who do not have a Part D plan can enroll in one,
and those who do have coverage can change
their prescription drug plans,
change Medicare Advantage plans, return to original Medicare, or enroll
in a Medicare Advantage plan for the first time.
In order for your plan to in
effect by January 1, CMS is urging Medicare beneficiaries to sign up for
a drug plan by December 8th.
Beneficiaries
who take no action will remain in their current plan, with some
exceptions for those who receive low-income subsidy.
Medicare
beneficiaries receiving low-income subsidy may have to actively apply
for low-income subsidy in 2007 instead of being automatically enrolled,
and you may have to switch drug plans in order to continue to pay no
premium. Do not assume you will
automatically receive the Low income subsidy if you have not received
verification from social security. You will not be able to choose a new drug plan during 2008 if you
realize after January 1 that your current plan requires you to pay a
premium.
It is important to remember that if
you are dually eligible for Medicare and Medicaid or
In
addition to the large amount of mail you may be getting from Medicare it
is also open enrollment for the Medicare Advantage Plans. These are
health plan options that are approved by Medicare and run by private
companies. Some Medicare Advantage plans have prescription drug benefits.
There are different types of Medicare Advantage plans and it is
important to learn how they work and what they offer before you decide
to join. Here are a few facts about joining a Medicare Advantage plan:
- You must have
both Medicare Parts A & B to enroll
- You are still
in the Medicare Program and get all Medicare covered services
- You must still
pay the Medicare Part B monthly premium
- You do not
need to buy a Medigap plan (Medicare supplemental policy)
- You may be
able to get extra benefits such as coverage for vision, hearing and
dental services
- You may have
higher costs to use a health care provider that is not part of the
plan’s network
Prescription
insurance can be a challenging subject to fully understand.
The good news is there is help!
Eastern Agency
on Aging is offering several Medicare D sessions in the