Millions of Medicare beneficiaries have made an effort to understand the Part D prescription drug benefit and choose a plan. Now it begins all over again. The annual open enrollment period—from Nov. 15 through Dec. 31—kicks off the second year of Medicare drug coverage, which begins Jan. 1.
Maybe you’re shuddering at the thought of going through it again, or figuring that since you’ve already chosen a plan, you don’t need to do it again. But most plans will change their costs and benefits in 2007, so it’s important to compare your plan with others in your area, to be sure you choose the one that best meets your needs.
Going into Year Two, new questions arise. Here are answers that can help you—whether you’re already signed up for a plan or are still considering it.
If You’re Already in a Plan
Will my plan change next year?
Very likely. Plans can change their monthly premiums, annual deductibles, copayments and formularies (list of covered drugs) in each new calendar year. They may switch drugs from one price level (“tier”) to another and change their “preferred” pharmacies. Also, your insurer may offer more plan choices for 2007, which may be different from the plan you have now.
