Why Sign Up for Prescription Drug Coverage?

We are at the end of another year, and Medicare recipients have a little less than 2 weeks to sign up for the Medicare coverage they will have for 2009. We have been talking about it and hearing about it for a few months now, and we are getting down to the wire. If you haven’t made a choice yet, we hope this information will help.

Unfortunately, this is something that has to be done, like it or not. Even if you don’t currently take prescription drugs, it is important to sign up when you first become eligible, because if you do not sign up at that point there will be big penalties to pay once you do need some prescriptions. Most of us will need prescriptions at some point – and prescriptions are expensive. There are some, prescriptions that are on the $4 list at several major pharmacies, however, the ones that are not on that list can cost $300, $400, $500 or more per month. If that happens – and it usually happens unexpectedly – you will probably wish that you were paying $50, $60 or $70 per month for coverage instead.
There are some seniors who are covered by a comparable company or retiree prescription plan, or other seniors who have signed up for an all-in-one Medicare Advantage plan. Some seniors have prescription drug access through the Veterans Administration, though they may want to choose an inexpensive Part D plan for drugs the VA does not cover. If you are not a senior who fits in one of these groups, it is important to look at Medicare Prescription Drug Coverage.
If you have recently turned 65 and just started to qualify for Medicare, this will be the first time going through the process of choosing the best plan for you. But every senior, even if you are currently enrolled, you should look at all the plans that are available for 2009. That’s because each year the plans change the prices of the drugs they cover, and may not even include the same medicines in the year ahead.
Make sure to explore what is available and what is best for you. There is a little less than two weeks to make the choice. The time to determine which plan you will choose is now. Once you do your research and find your plan, you can move through the new year without extra worry about your prescriptions.