WHAT IS MEDICARE PART D?

Medicare Part D Prescription Drug Coverage is a voluntary program developed to help Medicare recipients deal with the rising cost of prescription medications. By paying a monthly premium (anywhere from a few dollars to around $60), you will be able to purchase most prescription medication at a lower price (sometimes even at no cost - $0 for generics).

What is the Donut Hole?

The Donut Hole is a term used to describe the gap in the Medicare Part D plan coverage where the Medicare Part D plan participant (you) must pay 100% of the cost for your prescription drugs.

This break in coverage is also sometimes referred to as the Coverage Gap. The Donut Hole is the phase of your prescription drug plan where the total retail costs of the medication is paid for out of your own pocket.

Important Dates to Remember

When Can I Join a Prescription Drug Plan?

(1) If you currently have Medicare Hospital or Medicare Medical Insurance (Parts A and/or B), you can enroll or re-enroll in a Medicare Part D Prescription Drug Plan (PDP) or Medicare Advantage Plan with Prescription Coverage (MA.PD) starting on November 15 through December 31 of each year.

This tIme period is called the Annual Election Period and your newly chosen Medicare Part D plan begins on January 1 of the following year.

TIP Please note, to ensure the smoothest possible transition into your new Medicare Part D plan, try to enroll well before the middle of December - this allows the insurance companies, CMS and Social Security time for the processing of your enrollment application.

So, for the 2007 Medicare Part D Plans, you can enroll between November 15 2007 and December 31, 2007. Your 2007 Plan will begin January 1, 2008.