California Health Insurance News 
Articles / Seniors ask what is Medicare's new prescription-drug coverage?
08/24/2005
The one thing that senior citizens have in common is that they like predictability in their lives. Unexpected changes, even beneficial ones, are sometimes viewed suspiciously and the new development soon to be implemented with Medicare is no exception.
Increased overhead costs and media rumors, fuel the fires of confusion and questions being asked by seniors are mainly focused on whether this new development in the form of Medicare's Part D, will be an improvement or another disappointment for them.
Will Part D cost me money? Will I be able to get my medication at a lower rate?
Will I still need Medigap supplementary coverage? All these questions need to be answered so that our seniors have peace of mind.
AARP has done a very good job in providing seniors with a lot of information and have produced a useful booklet outlining the essential information they will need, and in October the official Medicare booklet will go out to all Medicare beneficiaries, but the best person to turn to, because he or she has intimate knowledge of your individual circumstances, is your own insurance agent or broker.
"I have actually set aside time for any senior citizen who may require information or help," said David Thau, founder and CEO of Keep It Simple Insurance. "As many of my clients fall into this category and I know this can be very worrying and confusing to them."
Enrollment for Medicare Part D starts on November 15th, 2005. The plan goes into effect on January 1st, 2006. An important thing to bear in mind is that if not enrolled by May 15th, 2006, late enrollees will be penalized with a lifetime of increased drug premiums.
