http://chamberlainfp.com/2010/09/medicare-part-d-drug-plans-to-be-modified-2011/
Medicare plans to try and make Medicare Part D Drug plan choices easier in 2011 by eliminating many duplicate programs. As a result some experts estimate 3 million seniors having to switch plans simply because their current plan will be eliminated.
Reducing the number of Medicare drug plans has been a goal for consumer advocates. This year nearly 1600 plans, offering a wide range of options, are currently available. Typically in any given area there might be upwards to 40 plans available.
It is unclear at this point how Medicare will mandate people be treated should a persons current plan be canceled. The current insuring company may just assign the person to the plan that is closest to the present one. This will not guarantee it is the best plan for the individual.
In the last six weeks of each year it is paramount that all Medicare recipients determine the best drug program for their specific circumstances for the coming year. The best plan next year could well be different than the best plan this year based on which drugs the person is currently taking, the plan premium, the co-pay and the preferred list of drugs for each plan.
If you are over 65 and on Medicare, mark your calendar for November 15th and contact Medicare at www.medicare.gov/pdphome.asp or at 800-633-4227 to learn which drug plan will be best for you in 2011.
Michael Chamberlain CFP® AIF®
Member Garrett Planning Network and NAPFA
Santa Cruz /Sacramento CA
