As of January 1, 2006, Medicare Prescription Drug Plans were made available to any individual eligible for Medicare. This coverage was designed and intended to lower prescription drug costs and help control rising drug costs in the years to come. Medicare prescription drug coverage is an additional insurance benefit that is provided by private companies. You choose from a variety of different plan options for which you will pay the monthly premium. If you do not enroll in a Medicare prescription drug plan when you first become eligible for Medicare and then decide you want to add it later, there may be a late enrollment penalty charged at that time. So, it is important to get started eary and make a decision about your drug coverage needs for the future. Even if you are currently not using enough medications you should still consider joining a Medicare drug plan.

There are two different types of Medicare plans that provide prescription drug coverage. There is the type of drug coverage that is included on Medicare replacement plans like the Advantage Plans and some other Medicare health plans. You can also find prescription drug coverage on some supplemental Medicare plans and even private fee-for-service plans. There is also prescription drug coverage available that you can add directly to your Original Medicare plan.

If you join a plan offering medicare drug coverage there will be a monthly premium, unless your income in limited, in which case you may qualify for financial assistance to help pay this additional premium. If you have limited income you may also find that there are plans that offer optional drug coverage for less. All of the prescription drug plans have to provide coverage at least as good as the standard Medicare coverage. If your employer or union offers you drug coverage you might not need to join a Medicare drug plan. You should enquire with your employer or union as to how your current coverage compares on average with the standard Medicare prescription drug coverage.

The prescription drug coverage option you choose will affect the coverage levels, the cost, the convenience of filling your prescription and the security of maintaining your coverage. When considering coverage levels, it is important to know that Medicare drug plans cover brand-name and generic drugs. All plans will have rules about the drugs that are covered in different drug categories and some may follow a strict drug formulary. If your required prescription is not listed on this formulary that drug may not be covered under your drug plan. These specific rules will also regulate which drugs must be covered by the insurance companies and this helps the people with different medical conditions make sure they get the treatment they need. Information about new drugs and interactions on old drugs is constantly being updated, so any formulary is subject to change. Your plan must let you know at least 60 days in advance if a drug you use is being removed from the list or the costs are changing. If your doctor feels that a drug that is being removed from the list is "medically necessary" to treat your illness or condition, he may apply for an exception or appeal decision.

Certain health plans will also contract with a specific list of participating pharmacies. Always check to make sure that the drug plan you are considering works with pharmacies that are conveniently located near your home. Most drug plans also authorize mail-order prescription refills.

The older we get, the more likely it will become that we will need prescription drugs to remain healthy and also treat many of the common illnesses associated with aging. Joining a Medicare drug plan as soon as you become eligible means that you will be paying the lowest possible monthly premium. If you wait your monthly premium will go up a least 1% for every month that you wait to join. This is a recurring penalty that you will need to continue paying for as long as you are member of Medicare prescription drug coverage.

Additionally, extra help is available for individuals with low incomes. Approximately 35% of Medicare people qualify for this assistance. Coverage assistance can be as much as 100% of prescription drug cost. That could equate to hundreds of out of pocket dollars saved under this new Medicare prescription drug plan. If you qualify for this assistance you will pay no premiums and have very small co-pays. Your income will dictate the actual amount of help you receive. To get this help you will need to apply prior to January 1, 2006. Apply even if you do not join a plan. By May 15, 2006 Medicare will enroll you in a plan if you fail to select one. This is very important prescription drug coverage being offered to you. Medicare does not want you to not have this coverage for a single day. It is important if you think you might qualify to find out more about this new drug prescription plan and how to go about getting started. If you become eligible after March 2006 you'll be able to join a drug plan during your seven-month initial enrollment period.

WARNING: Scammers will surface and may pretend to be from a Medicare drug plan simply to obtain your financial information. Here are some basic things to watch out for.

Companies with plans approved by Medicare can offer them to via mail or over the phone. They are not allowed to go door to door. They cannot request you enroll over the phone if they called you. You must call them. If you are not sure about someone call the Medicare hotline ( 1 800 633 4227 ) to verify the name of the company and the plan they are offering.

Never give out your Medicare ID number, Social Security number, bank or other financial information. Only scammers would ask you for this information. A legitimate company and their representatives would not.

If someone implies that you must sign up according to the law, do not believe them. Some may say you will loose your Medicare benefits if you don't. That is NOT TRUE. Also, there is no fee for enrolling.

Report any suspicious behavior, fraud, or misleading statements directly to Medicare or you state attorney general's office.

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