Elder Angle
Medicare Part D Open Enrollment — What you Need to Know
The open enrollment period for Medicare beneficiaries to change their Medicare (Part D) drug plan is Nov. 15 to Dec. 31. Your existing plan may or may not be the best to meet your needs in 2008. Be sure to read the Annual Notice of Change sent by your drug plan company this fall. The letter will tell you about any changes in your premium, drugs covered (formulary), and the cost of the drugs. Contact the plan’s customer service department if you need further information.
Extra Help in paying for your Part D drug plan is available for those with limited income and resources. If you qualified for Extra Help in 2007, Social Security must determine if you are still eligible, and for how much, in 2008. If you receive Extra Help through a state Medicaid program, be alert to any information you receive in the mail about changes in your benefit. If you think you may qualify for Extra Help visit www.socialsecurity.gov or call 800-772-1213.
The best way to compare your current plan with other Medicare approved drug plans is to use the Medicare Prescription Drug Plan Finder at www.Medicare.gov and select “Compare.” Have your Medicare card, a list of your drugs and their dosage, and the name of your pharmacy available. Check whether the plan will cover you in another state if you are a snowbird. Remember that the lowest cost plan may not have the lowest monthly premium.
You may also compare plans by calling Medicare directly at 800-633-4227 any time of day. Or you can call the Elder Helpline at 1-800-262-2243 to be referred to a SHINE (Serving Health Insurance Needs of Elders) Volunteer in your area. SHINE volunteers are trained by the Department of Elder Affairs to help Medicare recipients make informed choices.
Coverage under your new plan (if you make a change) begins Jan. 1, 2008. Do not drop your former plan — the process is automatic when you enroll in a different plan. It is best not to wait until the last minute to enroll. If you are satisfied with your current coverage, you do not need to take any action.
