Medicare Part D (Rx) Initial & Annual Enrollment Notes
*** October 2022 ***
Use our updated 2023 Medicare Part D Enrollment Tip Sheet
at the bottom of this page to help select your best plan!
We provide information allowing you to quickly analyze the entire market and purchase your plan direct for the provider. We want to give you the complete view of the market rather than broker a handful of plans. Remember, there are penalties for not enrolling in a timely manner. (Penalty information) To appeal a late penalty once enrolled use Part D “Late Enrollment Penalty (LEP) Reconsideration Request Form”
Medicare Part D enrollment is available when initially enrolling in Medicare (anytime during 3 months before, the month of, or 3 months following enrollment), during Special Enrollment Periods (like leaving qualified group coverage after age 65) and during the Annual Election Period – October 15th through December 7th for an effective date of January first. It’s important to review the market each year as plans change cost, deductible, copays, participating pharmacies and what drugs they cover – what worked last year may no longer be the best for you. This is especially important for people approaching their first open enrollment after taking Medicare Part D.
The government has created an excellent tool to research & enrollment at www.medicare.gov. Simply enter your current prescriptions and let it determine the plan with the lowest total cost.
- ”Total Drug + Premium Cost” includes premiums, deductible, copays and coinsurance for either the balance of the year (for initial enrollees only) or the upcoming year at one of the selected pharmacies.
- The system will also recommend less costly prescription medicines to consider.
- Remember, the plan’s position in the result list, based on it’s costs and benefits, is more important than the carrier’s name. There is no “best company” – the best is the one that fits your particular needs.
Below is our detailed guide to Medicare’s Part D tool.