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Medicare Tips for Consumers
Seniors can start signing up on November 15 for their prescription drug plans. Here are some tips from Judith Stein, executive director of the Center for Medicare Advocacy:
Seniors shouldn't rush to make a decision. Keep in mind that November 15 is not a deadline; it's the start of when you can sign up, so don't feel pressured. Take your time to research which plan is best for you -- you have until May 15 to sign up without paying a late-enrollment penalty.
When figuring out which plan to choose, ask yourself these questions:
- Does the plan that I am considering cover my current medications or
generic versions of my medications?
- Does the plan cover the required dosage?
- Does the plan have tiers or groups of preferred and non-preferred drugs, with different co-payments associated with each tier?
If so, which tier applies to each drug?
- Does the plan place limitations on my medications, such as prior authorization requirements, quantity limits, or "step therapy" which would require me to try other, less expensive drugs before the plan will cover a more expensive drug?
The Center for Medicare Advocacy encourages beneficiaries to use all available sources of information in order to have the most complete and accurate picture of the drug plan.
Keep in mind that tools like CMS' Plan Finder can be confusing. CMS' information should be double checked with information available from the plan provider, as there may be discrepancies.
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