We'll get back to our discussion of the economy and, in particular, the part that education must play in any solution, but first here's something important about Medicare.
We've become used to making changes in our Medicare coverage between Nov. 15 and Dec. 31. (Medicare calls this the "open enrollment period.") The new healthcare law has changed these dates.
Medicare's open enrollment period will now run from Oct. 15 until Dec. 7. This is a longer period than the old open enrollment period. The change is designed to do away with problems caused by people changing their coverage late in December and expecting the changes to be effective as of Jan. 1.
If you have a Medicare supplemental policy, a part D (prescription drug) policy or a Medicare Advantage plan, the sellers of these policies must send their new rates, drug formularies and coverage details for 2012 to you no later than Sept. 30.
If you do nothing, the policies you have in place will continue for 2012. (This is assuming that the company is still selling that policy. Rates almost certainly will increase.) It's worth a few minutes of your time, however, to look over the proposed changes, particularly with the part D (drug) plans.
Last year I discovered that my part D plan was going to drop one of the drugs I take from its formulary of covered drugs. In addition, they were going to raise the monthly premium by a mere 100%. I went to medicare.gov and found a plan that covered all my drugs, and saved me money in the bargain. I signed up online, and Medicare took care of the details involved in dropping my old part D plan.
Note these dates on your calendar. They're important for both your health and your wallet!
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