Medicare Supplement Coverage and Part D

Monday, November 8, 2010

If you are on Medicare Part A and Part B and have a Medicare supplement policy the time is approaching to review your Part D for 2011.  Part D has been extremely helpful to millions of Medicare recipients and is an important part of your insurance coverage in addition to a Medicare supplement plan.  There are three ways for you to do that

Call Medicare (800-633-4227) and give a Part D specialist your RX list.  A representative will find a plan for you and enroll you over the phone immediately.  ** This is what I recommend**

Contact SHIP (State Health Insurance Program) and set an appointment.  Medicare can provide you with a local SHIP telephone number.  The SHIP representative will then find a plan that works well based on your RXs and immediately enroll you over the phone. and use their online tool to find the best plan for you and you can enroll online. (Only use this option if you are savvy on the internet) 

The main reason you should call Medicare to help find the best Part D plan for you is they can make the process go very fast.  While you are on the phone with them, they can take your RX list, find a plan, explain it to you, and enroll you immediately without any paperwork.
Between November 15th and December 31st you will be in your Annual Election Period. During this time you can change, add, or drop Medicare Part D.

There is a significant change to the donut hole (or coverage gap). The pharmaceutical companies have agreed to pay 50% of the donut hole cost for you starting in 2011 on many brand name RXs.  When you review your Part D for 2011, many of you will find this very beneficial.
Lastly, your 2010 Part D Plan will be different next year  Each year Part D companies change the premiums, formularies and co-pays. Some plans will no longer be available. Your 2010 plan may have worked great for you but in 2011 it could be a bad fit. Each year you need to review your Part D coverage. Please don’t forget to review your prescriptions for 2011 so you can get the most out of your Part D coverage!
The end of year is a great time to review your Medicare supplement coverage.  But this is something you can do any time of the year.  Part D, on the other hand, has a very limited time frame so take advantage of this in the last 45 days of the year!













Aaron Holmes 11/8/2010