2013 Medicare Part D Changes and Enrollment Opportunities

During the recent Medicare Open Enrollment Period from Oct. 15 to Dec. 7 of 2012, you had the opportunity to make changes to your Medicare coverage.

Among possible changes you had the opportunity to consider were:

• Enrolling in a new Medicare Advantage or Medicare Part D prescription drug plan
• Dropping your Part D coverage
• Leaving Medicare Advantage and returning to Original Medicare

Each of these possible changes in some way concerned the option of prescription drug coverage. With the cost of some prescription drugs rising to levels seldom seen before, a prescription drug plan (PDP) is something every Medicare beneficiary ought to think about having.

Medicare Part D Prescription Drug Plans

Anyone enrolled in Medicare Part A or Medicare Part B is eligible for prescription drug coverage. Enrolling in a prescription drug plan is voluntary and can be especially helpful for people with high prescription drug costs and no current prescription drug coverage. Medicare prescription drug plans pay for generic and brand name prescription drugs. As with Medicare Part B, there are deductibles and co-payments  In 2013, premiums for prescription drug plans average about $30 per month.

There are two ways to get Medicare prescription drug coverage. You can join a Medicare prescription drug plan to add prescription drug coverage to Original Medicare, or to some Medicare Cost Plans, Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans. You can also get prescription drug coverage through most Medicare Advantage Plans, particularly Health Maintenance Organizations (HMOs) and Medicare Preferred Provider Organizations (PPOs).

If you joined a PDP during the recent Open Enrollment Period, you probably made a wise choice that could save you a lot of money in the future.

You’ll have another opportunity to consider your prescription drug coverage options and to make changes during the next Medicare Open Enrollment Period between October and December of 2013. You may have an opportunity to make changes in your Part D coverage before then if you qualify for a Special Enrollment Period. But many Medicare beneficiaries are eligible to make changes in their prescription drug coverage right now through February 14, 2013.

If you’re currently enrolled in a Medicare Advantage plan and have decided you would like to leave your current plan, you have the option of dis-enrolling during the annual Dis-enrollment Period for Medicare Advantage, which in 2013 takes place from January 1 to February 14.

During the Dis-enrollment Period for Medicare Advantage, you can:

• Return to Original Medicare
• Apply for a Medicare supplement
• Enroll in a stand-alone Part D plan

If you’re thinking about dropping your Medicare Advantage plan during this year’s Dis-enrollment Period for Medicare Advantage, you’re well advised to look at Medicare supplement options before dis-enrolling from your current plan. The best way to start is by getting a free Medicare supplement insurance quote and becoming familiar with all your Medigap options. Call MedicareMall toll-free at (877) 413-1556 to discuss the best and most cost-efficient Medicare supplement options available to you.

If you decide to drop your Medicare Advantage plan and apply for a Medicare supplement, you should do so early enough to learn whether your application is accepted prior to February 14th. And unless you’re prepared to be insured only by Original Medicare, you shouldn’t drop your Medicare Advantage plan until you’re certain you’ll be able to get a Medicare supplement policy to replace it.

Whether you choose Medigap coverage or not, dis-enrollment from Medicare Advantage during the Dis-enrollment Period for Medicare Advantage entitles you to enroll in a Part D prescription drug plan.  Part D enrollment is a good move for most Medicare beneficiaries, so why not call MedicareMall today so we can help determine the best option for you?

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