Drug Plan (PDP) Shopping

Even if you are satisfied with your Medicare Drug Plan from 2007, it is wise to evaluate your plan and other options for 2008. Beginning November 15 Medicare recipients have an Annual Enrollment Period. After that date, seniors can make changes to the drug insurance and also their
health plan coverage. That enrollment period ends December 31 and coverage begins January 1, 2008. To date, about 8.3 million people nation-wide have elected to have a Medicare Advantage Plan as a replacement for their Medicare supplement. It does work different that the original Medicare benefit structure. The key is to determine if it is right for you.

Many prescription drug plans are slated to take increases in premium. Others have dropped a plan or removed a covered drug from the plan formulary. "As much of a hassle as it is, (shopping around) could save you thousands of dollar. You could be horribly surprised in January if you don't check now." This is a quote from Bill Vaughan, senior policy analyst for Consumers Union.

The Formulary Finder on www.Medicare.gov will give you an independent review of how each plan covers your individual medications. The PDP plan websites can also provide answers to "How much is it?" and "What does it cover?" Take some time to review your options for 2008.

Reviewing your benefit options can give you peace of mind that your plan will cover your 2008 medications and do so with the lowest premiums and co-pays available.