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Medicare part D enrollment period approaches
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If you receive Medicare benefits and either have Part D coverage for prescriptions or you want to enroll for Part D coverage you should note that the open enrollment period starts next month. The open enrollment period for Part D coverage runs from November 15 through December 31 each year. During open enrollment, you may sign up for coverage or change your coverage plan.
The ideal time to sign up for Part D coverage is the seven-month period (three months prior, month of birth, and three months after) surrounding your 65th birthday. So, if your 65th birthday is on May 15th, then your enrollment period ranges from February 1 through August 31. If you enroll in a month before your 65th birthday then your coverage will begin the month when you reach age 65. If you enroll in a month after your 65th birthday, then coverage will begin in the month you enroll.
You can also enroll for Part D coverage each year during the enrollment period of November 15 through December 31. If your enrollment is outside of the seven months surrounding your 65th birthday, then you will be charged a higher premium. You can, however, enroll for Part D coverage at any time without penalty if you have both Medicaid and Medicare coverage, or if your income is below $20,000 for a single person, $25,000 for a married person.
If you’ve been considering enrolling for Part D coverage then start researching now to determine what plan is best for you. There are many plans from which to choose with monthly premiums that range from zero to over $100 per month. The more coverage provided above what Medicare provides, the more the monthly premium will be.
For more information:
Medicare Part D: How to Enroll in a Medicare Part D Drug Plan
Medicare Prescription Drug Plan Finder: Plans in Your Area
Single-Payer Health Care: AKA Medicare
Medicare and You 2010
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