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By Greg Cieslewicz
Communications Specialist
WEA Trust
October 2006
The open enrollment period for Medicare’s prescription drug benefit, known as Medicare Part D, begins in mid-November.
This will be the second year for Medicare Part D. Anyone who has already signed up for Medicare Part D coverage can switch to a different plan once a year, from November 15 to December 31.
Unlike traditional Medicare, private insurance companies provide drug coverage through a variety of plans under Medicare Part D. Medicare estimates that, on average, Part D plans will pay for about half of your prescription drug costs.
Whether you are already signed up for Medicare or will soon become eligible, here are some things you should know about Part D:
When can I join a Medicare Part D prescription drug plan?
You will have an initial enrollment period for Part D, which is the sevenmonth period surrounding the month you become eligible, typically your 65th birthday. The seven months include the month you become eligible, as well as the three months before and after you become eligible.
If I do not enroll during my initial enrollment period, when would be my next opportunity to enroll in Medicare Part D?
You will have to wait for the annual election period – November 15 to December 31 of each year.When you join during the election period, your Part D plan becomes effective on January 1 of the following year. For each month you delay in enrolling after your initial enrollment period, you will be assessed a 1% penalty on your premium payments when you do enroll.
How do I know which plan is best for me?
Go to the Medicare Part D Web site at www.medicare.gov. Click on “Compare Medicare Prescription Drug Plans” and follow the instructions.Watch for the “Medicare & You 2007” handbook, which is mailed out by Medicare to each beneficiary in October and lists all the Part D plans for 2007.
Where can I find help in picking the right plan?
If you have a WEA Trust health plan, contact a customer service representative at 800-279-4000. You may also contact Medicare at www.medicare.gov or 800-633-4227, or The Coalition of Wisconsin Aging Groups at www.cwag.org or 866-456-8211.
Posted November 15, 2006