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Take
Advantage of Medicare D Prescription open Enrollment |
| Tracey Cousineau |
| 11/24/2008 |
If you have Medicare, no doubt, you’ve been getting a great deal of
information about all the Medicare drug plans available in 2009.
Open enrollment for Medicare D
prescription plans
begins November 15 and ends December 31.
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 your current plan.
Take advantage of open enrollment to find the best plan
for you because
the drug plans that were available in 2008 will not necessarily remain
the same in 2009. 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, the 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 a plan, 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 be in effect by January 1, you should plan to sign up for a drug
plan by
December 8.
Beneficiaries
who take no action will remain in their current plan, with some
exceptions for those who receive the low-income subsidy.
Medicare beneficiaries receiving the low-income subsidy must apply for the subsidy annually. 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
Prescription insurance can be challenging to understand.
The good news is there is
help! Eastern Agency on Aging is
offering several Medicare D sessions in the