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The New Medicare Prescription Drug Plan: What You Should Know When Medicare began, it consisted of Part A (hospital coverage) and Part B (medical coverage). To supplement these benefits, many enrollees purchase Medicare Supplement plans, which do not provide prescription benefits....these benefits are only available under Medicare Part D policies. You may enroll in Part D through an insurance carrier which offers Part D coverage in your area, or through your existing Medicare (HMO) provider (*commonly referred to as Medicare+Choice, or Part "C"). For Part D plans only, we suggest using the government website which lists all the available plans in your area, as well as a search tool that will match your existing prescriptions with the programs providing you with the best coverage. This website is found at www.medicare.gov. When does enrollment begin? Medicare Part D is available when you apply for Medicare at age 65, or during an annual open enrollment "window" from November 15th through December 31st, with coverage effective on January 1st of the year following. Participants may also use this window to switch plans, should they choose. *Note: if you are eligible now but wait until next year to enroll, premiums may be substantially higher! |
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MacKellar & Associates
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