In May of 2006 Prescription Drug coverage started as the 4th part of Medicare known as Part D. This voluntary program provides help for people on Medicare with prescription drugs cost. If a Medicare beneficiary doesn’t sign up when first able to join, there is 1% penalty per month of the average premium for the state with no cap. This program is run by Medicare approved private insurance companies.
Each year there is an Open enrollment period. This year between October 15 and Dec. 7 a beneficiary can change their drug company and plan. We recommend that everyone review their plan during this period.
When one becomes 65 there is an initial enrollment period of going on Medicare and or taking Part B of Medicare. Sheila can help with choosing the most appropriate plan.