Medicare beneficiaries take note! The annual election period for prescription coverage under Medicare Part D will take place from November 15 through December 31 for coverage beginning January 1, 2011.
Why is this significant? There is only one enrollment period per year when you can change coverage. Different Part D plans offer varying coverage for certain medications, so you may wish to change Part D plans if you have experienced any health problems over the past year which have resulted in medication changes. Or, if you have added up your medication expenses and feel you may be able to get better coverage under a different Part D plan, you may wish to "shop around."
You can use the formulary finder on the Medicare website to search for the Part D plans in your area that cover most or all of the medications you are taking. You will be prompted to enter a list of your medications and dosages, and then you will be provided with a list of Part D plans, their monthly premiums, and customer ratings of each plan.
Generally you can only switch Part D plans during the annual enrollment period, though there are certain exceptions, called Special Election Periods (SEPs). You may have an SEP if you experience a special circumstance such as moving into a nursing home, or losing your Medi-Cal benefits. If you are currently covered under a union or retiree plan and this plan stops offering prescription drug coverage in the future, you can join a Medicare Part D plan without a penalty as long as you do so within 63 days of the end of your existing coverage.
Medicare Part D coverage can be confusing, but there are resources out there to help. Great information on Part D coverage, as well as Medicare and other health insurance options for seniors, is available at the website of California Health Advocates. You can also call the San Diego Health Insurance Counseling and Advocacy Program (HICAP) office at (858) 565-8772.
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