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Savvy Senior
I need help figuring out which Medicare prescription drug plan to choose. I’ve received so much information in the mail I don’t know where to start. Any suggestions would be appreciated. Confused Carol Dear Carol, Medicare’s new prescription drug coverage (known as Part D) is confusing to most seniors - but help is available. Here’s what you should know. All Medicare beneficiaries that don’t currently have good (or creditable) prescription drug coverage from a current or former employer, or a union, need to take a close look at Part D because it can be a cost saver. Part D Help If you have access to the Internet, the best resource to help you choose a Part D plan to meet your needs is at www.medicare.gov. This is the government’s main Medicare Web site that contains online tools for researching, comparing and picking plans. The site’s key tool, called the “Prescription Drug Plan Finder,” can help you narrow your choices by providing a side-by-side comparison of the different plans available in your area. You just plug in your Medicare number, birth date, prescription drugs and dosages you currently take, along with how much you’re willing to spend on a plan, and you’ll get a personalized search that will breakdown and compare the plan’s cost, coverage and list of preferred pharmacies. It will also suggest cheaper generic alternatives to brand-name drugs when they’re available and give you additional information, such as whether your former employer is offering drug coverage or if you qualify for Medicare’s extra help program. The site also lets you see what you would pay if you signed up for a Medicare advantage plan, the managed care (HMO or PPO) alternative to traditional Medicare that combines coverage of hospital and doctor services with prescription drugs. Savvy Tip: If you don’t have access to the Internet or don’t feel confident in working through the information on your own, ask one of your kids or a close friend to help you. Or, you can call Medicare at 800-633-4227 and they will do the drug plan comparing for you over the phone. Hands-On-Help If you want more personalized advice in choosing a plan, here are two additional resources that can assist you: • SHIP: Your local State Health Insurance Assistance Program can help you choose a plan by offering free on-on-one Medicare counseling. To find your nearest office visit www.shiptalk.org or call 800-633-4227. • Area Aging Agency: Your local agency may be able to direct you to some community-based organizations that offer Part D education and assistance. Call 800-677-1116 to get your local number or visit www.eldercare.gov. Enrollment Part D coverage begins January 1, if you enroll by the end of December. There are several ways you can enroll in a plan: through Medicare at www.-medicare.gov; by calling 1-800-MEDICARE; by contacting the plan of your choice at its Web site or at the phone number provided in its brochure on Medicare’s Web Site. Also keep in mind that if you don’t enroll by May 15, 2006 (the last day for open enrollment) and choose to enroll as at later date, you’ll have to pay a premium penalty increase of 1 percent every month you delay. And you will have to pay this penalty as long as you’re enrolled in Part D. But, if you already have prescription drug coverage at least as good as Medicare’s, you can delay enrollment without penalty. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit www.savvysenior.org. Jim Miller is a regular contributor to the NBC Today Show and author of “The Savvy Senior” book.
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