Changing Part D Plans Might Lower Your Drug Cost

Is my current Part D Drug Plan right for me?

Medicare Part D assists with prescription drug costs. Part D plans are very different, and the cost can vary greatly depending on the plan you choose. Even for the same drugs, there can be differences in costs for each plan within the same city. Comparing Part D plans is very important, and should be considered a major purchase.

Should I switch my Medicare Part D Plan?

If you find that your Medicare Part D Plan is not meeting your healthcare or financial needs, you may want to consider changing plans. Your medications may change from year to year. The Medicare Part D Plan that you chose may have changed. You may have been surprised by the costs, or you may have experienced a coverage gap.

Even if you're satisfied with your current plan, costs may be much higher this year. In fact, it’s certain that you can expect a significant increase in the premiums for your current plan.

Additionally, you may not be sure if your plan is meeting all of your needs. It is important to understand your options. Educating yourself about your current plan (and its changes) and other plans allows you to decide whether to keep your current plan or switch to another plan. Many Medicare beneficiaries find that they save money by switching plans, so it is worth taking the time to explore all your options.

Will I have to pay a penalty for switching plans?

No, there is no penalty for switching plans. However, you can only switch plans during the open enrollment period. You can only enroll and disenroll one time during each year's period.

When can I switch plans?

You can switch plans during open enrollment. For this year the period is November 15, 2009 through December 31, 2009. If you do not enroll/switch by December 31, 2009, you may not be eligible until the next Open Enrollment period in the fall of 2010.

If I switch plans during open enrollment when will my new Part D coverage begin?

If you switch/enroll during Open Enrollment, between November 15 and December 31 of this year, your Medicare Part D coverage will begin on January 1, 2010 and will continue for the entire year.

Should I compare Medicare Part D plans before switching?

Yes, you should compare Medicare Part D Plans. Comparing plans can save you money, because it can help you select a plan that is cost-efficient based on your specific medication needs.

Medicare Part D plans vary greatly. They structure their benefits differently than the minimum standard established by Medicare. Sometimes it can be difficult to determine the plan that will best meet your needs, and it can be difficult to determine your actual costs within a given plan.

Our free, easy to use Medicare Plan Comparison Tool allows you to compare plans side by side. By exploring your options, you can make a knowledgeable decision on a plan that best meets your needs. Having complete information on Medicare Part D Plans will save you money on your prescription drug-related healthcare.

If you find out that your current plan is still the best for you, do nothing and you will automatically be enrolled in it for the following year.

Will it take much time to learn about other plans?

Our free Medicare Plan Comparison Tool makes it very easy for you to find the plan that’s right for you.

The process is very simple:

Step 1: Enter your information - You will enter your zip code and an online medicine cabinet with your current medications.

Step 2: Explore your options - View the participating plans. You can view side-by-side comparisons of the plans that most interest you, including detailed cost information such as premiums, deductibles, co-pays and the drugs covered by each plan.

Step 3: Apply online - Select the plan you want and enroll online. Complete our secure, simple online form. You will need to provide information about your Medicare eligibility and current health insurance.

If you are ready to enroll, click on the link below:

Coverage Topics

Quick Site Navigation

Untitled Document

This website is a private website and is not associated, endorsed or authorized by the Social Security Administration, the Health Care Financing Administration, the Department of Health and Human Services or the Center for Medicare and Medicaid Services nor do we claim to be. This site contains basic information about Medicare, services related to Medicare and services for people with Medicare. If you would like to find more information about the Government Medicare program please visit the Official US Government Site for People with Medicare located at www.medicare.gov.