~~~~~~ Senior Solutions ~~~~~~
Medicare D (Drug Plan) Update for 2007
If you enrolled in the Medicare D program last year, between now (October), and November 15, 2006 you will want to review your plan to see if it remains your best option. All of the Medicare drug plans started to publish information about 2007 medication coverage sometime this month (October 2006).
Review this information from your current plan provider to find out about changes in drugs they'll cover, your copay rates, the deductible amounts, and changes in the premium amount. Any and or all of these things may be changing starting in January of 2007. You may want to look at other plans to see if they might better meet your needs than your current plan has, or might in 2007.
Anytime between November 15th and December 31, 2006, you may switch plans. This period of time is called the "annual election period". There are other times when you can switch plans. Check the Medicare web site for information about how to switch plans if it is not during an annual election period.
Whether you elect to stay with your current drug plan or switch to another, the terms of your plan will have an effective date of January 1, 2007.
If you did NOT enroll in a Medicare D plan by May 15, 2006, between November 15-December 31, 2006, you CAN. Originally there was to be a penalty applied to those who did not sign up for a Medicare D plan by May 15, 2006. Congress is considering whether to drop this penalty if these people sign up for a plan during this upcoming election period between November 15th-December 31, 2006. After that, anyone who still hasn't selected a plan will pay a higher premium if they sign up in the future during an election period.
If you want further information about Medicare D, or plan options, you can call Medicare at 1-800-633-4227, or go to their web site @ Medicare.gov, ask a SHINE volunteer to help you, or ask your pharmacist.
Hopefully there will be less confusion this year than last!