What To Look For When Evaluating Medicare Prescription Drug Plan Options: The Three

People with Medicare can start saving money by enrolling in the government’s prescription drug plan, and with open enrollment running through May 15, 2006, there is still time to save. “This is the most significant change to Medicare since the program’s inception, and it will offer people with Medicare more choices than ever before,” said Scott Latimer, M.D., Central and North Florida Market President for Senior Products at Humana, one of the nation’s leading private sector Medicare insurers. “In order to select the plan that best meets their needs, beneficiaries will need to carefully evaluate their options prior to enrolling.” When choosing a plan, people with Medicare and their family members and friends involved in the process need to factor …

A Step-by-Step Guide to Medicare Part D’s Prescription Drug Plan

By May 15 of this year, if you haven’t signed up for the program, you could end up without drug coverage, or have to pay the penalty for applying after the deadline. The penalty is a 1% increase in your premium for each month after May 2006 in which you don’t enroll. The following is a step-by-step guide designed to get down to the basics of Medicare Part D, cut through the jargon, and tells you exactly what you need to know. Step #1: Eligibility. Are you eligible for Medicare’s new prescription drug plan? Simply put, if you are eligible for Medicare Part A or Part B, you are eligible for Part D. Step #2: Cost. What will Medicare Part …