What is open enrollment for part d drug coverage?
Open Enrollment is the time of year in which you can enroll in a Part D plan or switch plans. The Open Enrollment period begins on November 15 and ends on December 31 of each calendar year.
If I enroll during this time, when does my Part D coverage begin?
If you enrolled between November 15, 2008 and December 31, 2008, your Medicare Part D coverage began on January 1, 2009 and will continue for the entire year.
Is there any other enrollment time?
You may initially enroll in a Part D plan any time from 3 months before to 3 months after your 65th birthday. For example, if you turn 65 years old on June 4, you may enroll in a Part D plan anytime between March 4 and Sept 4.
Do I need to enroll in a Medicare Part D plan?
If you do not enroll in a Medicare Part D plan during your first enrollment period, and then decide to enroll later, the Medicare Part D program may access a 1% monthly increase in your Part D premium. For example, it you decide to enroll 7 months after your first eligible enrollment period, then your premium could increase by 7%.
Do I still need to enroll if I do not take any medications?
Yes, even if you do not take any medications, you should still enroll in a Medicare Part D plan as soon as you are eligible. You can enroll in the Medicare Part D plan with the lowest premium. In this way you will avoid the extra premium cost that will be added if you decide to enroll later.
How do I enroll in a Medicare Part D Plan?
Finding a Medicare Drug Plan that fits your needs is not easy to do. It is not one size fits all. Beacon is here to help. We represent some of the largest names in the Medicare Drug Plan business and can assist you in simplifying and customizing a plan that makes the most sense for you.
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