Medicare Part D Insurance
Enroll in Medicare Part D Prescription Plan
Medicare Part D Prescription insurance coverage began in 2006. There was an initial deadline for open enrollment that some seniors and disabled missed. The enrollment forms for Medicare Part D prescription drug coverage are confusing, especially for many seniors. If this is your first year qualifying for Medicare Part D then follow these step by step instructions to get a Medicare Part D prescription plan. If you (or a family member) are already in a Part D plan then make sure it's still the best. Part D prescription plans change year to year. The cheapest Part D insurance plan from last year might still be good, but another is now cheaper with lower deductibles. This is written to help seniors and those helping them to find the best, cheapest Medicare Part D prescription insurance plan.
Every year there is an open enrollment period from November 15 to December 31. During this time you can compare Medicare prescription plans and coverages then enroll in a Medicare Part D prescription insurance plan, or change your existing insurance. While you can check out plan differences before then you can only change Medicare plans during the open enrollment period. Assessing whether you should change your Medicare Part D plan is very important. Every year there are new rules and coverage guidelines on the Medicare plans.
Senior Medical Insurance
What Do I Need to Enroll in a Part D Prescription Plan?
List of all current medications**
Date of Birth
Coverage Gap -- What is the Medicare Prescription Donut Hole?
The Medicare donut hole is an insurance coverage gap. The coverage gap occurs when medication costs exceed the payable amount for the year or fell into the donut hole. Once in the Medicare donut hole you pay for your own medications until fulfilling the donut hole coverage gap amount. In 2010, the donut hole started at $2,830 and ends at $6,440. This means that once $2,830 has been paid for medications, including the amount paid by the insurance plus your out of pocket, then you have to pay full price for your prescriptions. You might get a slight discount from the insurance company. The only way to get out of the donut hole is to pay through the coverage gap ($3,610 in 2010), and then your Medicare prescription insurance will pay again. Many end up paying until the end of the year then starting over the following year.
In 2011, the Medicare Part D prescription insurance plan donut hole limits are $2,840 and $6,448, barely changing. By carefully choosing a Medicare Part D insurance plan that is right for you it is possible to avoid the donut hole, but it depends on your medications and health situation. Compare insurance plans to find the most affordable Medicare Part D prescription insurance plan.
Sign up for Medicare Part D Prescription Insurance
Understanding the Medicare donut hole is an important factor in choosing the best Part D insurance plan. The current plan should roll over into automatic coverage unless you change it. Compare Medicare Part D prescription plans just to check for cheaper coverage. Enrolling in Part D can be overwhelming at first. If you have an elderly family member with Medicare then help them. The elderly are getting left behind. Most are confused when it comes time to enroll in MedicarePart D prescription insurance. Follow these steps to enroll in Part D prescription insurance.
- Get a print out from the pharmacy or write down every prescription that has been taken in the past year. Include as needed medications like Nitroglycerin. Include dosage instructions.
- Call Medicare at 1-800-MEDICARE. Tell them you want to compare plans. Know ahead of time what is most affordable (no deductible, etc.). They use the same form to compare as online.
- Compare Part D plans online at Medicare.gov. You will need the info above like name, SS#, and the list of prescription medications.
- Sort online results. The computer will tell you the top plans that fit your needs. You can pick and choose three plans to compare and save them so you know which plans you like best.
- After careful consideration and calculation, enroll in Medicare Part D. Ask for automatic deduction with your other insurance premium if that's easier.
Medicare Part D Prescription Insurance Enrollment Tips
- If you are eligible for Medicare Part D prescription coverage and do not sign up then you will be fined. This is a lifetime fine added to your monthly premium. That small print item was added into the bill that created Medicare Part D prescription insurance.
- Go to a doctor before you enroll in Medicare Part D. An end of the year check up enables you to be aware of new medications that need to be included in your Medicare Part D plan comparison.
- Consider what is most affordable for you. Plans vary by deductible, drug cost, monthly cost, prescription price in donut hole, co-pay, tiered medications, and other variables.
**One way to save money on prescriptions is the have your doctor prescribe a higher dose. The highest dose is usually not as expensive as two bottles. Example: Patient takes 25 mg of Atenolol. Doctor prescribes 50 mg. Tablets are cut in half. This saves money.
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