Comparison Shopping
Information about Plan D is being
released a little bit at a time – that is intended by law. Right now
many private companies, HMOs, health care providers and other private
firms, who will work with Medicare to offer these drug plans, are
sending out booklets.
But they had to wait until October 1 to
send out information about their specific plans. You’ll start to see
lots of media ads from these companies starting in October as they try
to get you to sign up.
You can enroll in the Part D program by
submitting an application to an approved Part D plan. Eligible
individuals will receive information from Medicare this fall of 2005
about the plan options in your area.
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Did You Know?
If you decide you
don’t like the plan you’ve signed up for, you can switch plans
without penalty in the last six weeks of every year. |
The good news is that if you decide you
don’t like the plan you’ve signed up for, you can switch plans without
penalty in the last six weeks of every year.
The Center for Medicare/Medicaid
Services (CMS) plans to provide an internet price comparison that was
developed for the drug discount card to the Part D program. Patients
should be able to compare prices they would pay under different Part D
plans.
For approved drugs – formularies –
Information will be available most likely in October 2005 and certainly
during the open enrollment period, which begins November 15, 2005 –
allowing people to compare formularies (approved drugs) as they choose
drug plans.
