Medicare Prescription Plan, Pt. D
When you become eligible to sign up for Medicare health insurance Parts A & B (when you turn age 65 or after you have been on Social Security Disability for 24 months), you will be eligible to sign up for the prescription drug insurance as well (Part D). You may sign up the three months prior to your birth month, the month of, and the three months after your birth month. If you sign up prior to that month, the coverage will begin on the first day of your birth month. If you sign up during the birth month or after, the coverage will begin on the 1st of the next month.

If you were eligible for Medicare insurance by February 2006 but did not sign up for the Part D prescription plan before May 15, 2006 and did not have prescription coverage as good as Medicare’s, then you will have to wait until the open enrollment period from November 15, 2006 to December 31, 2006. You will have to pay a penalty of 1% of the standard monthly premium (not the premium of the company plan you choose) for each month you were eligible but didn’t enroll. This will be paid for the duration of your enrollment time. If your current prescription insurance is as good as Medicare’s, you will not have to pay a penalty if at a later date you decide to choose a Pt. D plan.

Xtra Financial Help
If you are single and have an income of less than $1,225 and assets less than $11,500 (not counting house or cars) then you may qualify for extra help paying from Social Security for the premium of the plan and possibly part of the co-pays and deductible. If you are married, the income limit for both of you is $1,650 and the asset limit is $23,000. You may obtain an application for this assistance through Area IV, the Social Security office, or at www.ssa.gov.

Hoosier Rx Financial Help
If you are under the above income limit, but are over the asset limit, you may qualify for help paying the premium through Hoosier Rx.. You must first apply for the Xtra Help mentioned above. Contact Area IV to find out more information and for an application or see http://www.in.gov/fssa/elderly/hoosierrx/.

If you would like help finding the prescription plan that is best for you, please contact Area IV or you may go to www.medicare.gov to do your own comparison of plans. You will need an accurate list of medications that you take and their dosages, as well as information about income and assets, and current medical and prescription coverage. If you are going to apply on-line, you will need your Medicare number, the effective date for when you were first enrolled in Parts A & B and your birthdate and zip code.