California Health Insurance News 
Articles / Seniors, your mailbox will soon be full of Medicare Part D Info
10/21/2005
Seniors will soon have plenty of bedtime reading matter as mail boxes are filling up with info provided by the many different Health Insurance Companies, all vying for the business opportunity that the new Medicare Prescription Drug Coverage Plan D offers.
Seniors need to think their decision through thoroughly before enrolling, as the variations of benefits are considerable from company to company. If you have been dealing with an independent broker that you know and trust for a while, all the better, as he has a broader scope to work in and can advise you without prejudice, the best plan to suit your individual needs.
Under Medicare Part D in 2006, you will have four main options for prescription drug coverage.
1. No Drug Coverage
You will not automatically receive prescription drug coverage. You may choose not to buy prescription drug coverage under Medicare and still have Medicare alone for your other health care needs.
2. Medicare Prescription Drug Plans
Medicare will not offer prescription benefits directly to consumers; you must enroll in a health plan or prescription drug plan to receive prescription drug coverage. Here is where seniors need to display extra caution, as prescription drug plans will be sold by a wide variety of companies, including drug manufacturers and pharmacies. All plans must provide benefits at least equal to the standard Medicare coverage
3. Medicare Supplement Plans
Medicare supplements help to pay for Medicare deductibles and coinsurance. After January 1, 2006, plans that include prescription drug coverage will be changing. If you currently have a supplement plan, you will receive a letter from your insurance company describing these changes. So good advice would be to shop around and do some price comparisons.
4. Medicare Advantage Prescription Drug Plans
This option will often provide more prescription drug coverage along with comprehensive medical coverage. It can also provide significant out-of-pocket cost savings.
"Although the enrollment date starts on November 15th, you have until May 15th to make a final decision" said David Thau, CEO and Founder of Keep It Simple Insurance, "Examine all the options first, consult with your broker, and then enroll in the Medicare Plan D option that suits your needs best."
