How and When to Enroll in Medicare Drug Coverage?

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How and when to enroll in Medicare Drug coverage.

How and When to Enroll in Medicare drug coverge

How and when to enroll in Medicare drug coverage

Knowing how and when to enroll in Medicare drug coverage is very important. If you do it right, you will save money on your drug costs and avoid late enrollment penalties.

If you make a mistake, you can pay a permanent penalty.

Learn how and when to enroll in Medicare drug coverage.

Medicare Drug Plans, are also know as Medicare Part D, and many of the same insurance companies that offer Medicare Health Plans, offer these plans.

When Can I Enroll in Medicare Drug Plans

Before you enroll in Medicare Drug Plan, you must first be enrolled in Medicare A and/or B.

Plans require that you live in the plan’s area, and have a valid enrollment period, such as the Annual Enrollment Period or your Initial Enrollment Period.

Avoid the Part D late enrollment penalty:

It can be expensive if you don’t know how and when to enroll in Medicare drug coverage.

If you don’t enroll in a drug plan when you are first eligible or go more than 63 days without coverage afterwards, you will be charged a late enrollment penalty.

How to compare drug plans

In Florida for 2017, the plan benefits and costs are different than they were in prior years. There are  about 20 plans in Florida in each zip code.

In order to compare plans, you will need:

  1. Your medication list. Put together a list of your medications. If you are taking a generic drug, have that name instead of the brand name.   You will need to include the dosage and how often you take the drugs.
  2. The name of your pharmacy. Check to see if your pharmacy is in the plan’s network. Is it a preferred (lower cost) or standard (higher cost) pharmacy.
  3. Does the plan have a mail order pharmacy? You can order a 90 day supply of your drugs. This can also be helpful if you travel or live in more than 1 part of the U.S.
  4.  Are all your medicine’s covered by the plan’s drug list.
  5. Review the plan’s Summary of Benefits to determine your drug costs.
  6. Read the plan’s Annual notice of change.  The plan’s costs and coverage change yearly. 
  7. Learn when you can change or enroll in a plan.

You can do your own plan comparison or use my help. We are paid by the insurance companies a commission when you enroll in a plan.

Call Renee Lempert  (561) 704-9302

Email me: info@floridaseniorshealthinsurance.com

Fill in the Contact Form and I’ll call you.