Rx Enrollment + Rx Open Enrollment

Do you want or need to enroll in a Prescription Drug Plan?

If you are going to sign up for a Medicare Part D Prescription drug plan (PDP), the best time to do so is during your Open Enrollment Period, and TX Best Medigap can help you enroll.

When is my Medicare Rx Open Enrollment Period?

It is a 7 month period that begins 3 months before you go onto Medicare Part A and Part B. For most people, it happens around the time they turn age 65.

Here's how it typically works:  

Start on the first day of the month you were born. Example: if you were born May 14, start with May 1st. Then subtract 3 months. From May, the 5th month of the year, you arrive at February 1st for the start of your 7 month Open Enrollment Period. (5-3=2)

Your Open Enrollment Period ends 7 months later - in this example on Sept. 1st. (2+7=9) You can enroll anytime during the months of Feb, March, April, May, June, July, and August.

What if I miss my Rx Open Enrollment Period?

If you are unaware of your Open Enrollment Period and miss part of it, or all of it, then you have the opportunity to enroll during the Annual Election Period (AEP) which runs from Nov. 15th to Dec. 31st. Coverage will then begin on Jan 1st of the new year.

What if I don't want to sign up? or I want to sign up later?

Enrollment is voluntary and you can sign up during a future AEP; however, there is a penalty of 1% per month for each month you could have been enrolled and were not enrolled. This 1% is based on the average cost of all Rx plans and is added to your PDP's monthly premium for as long as you are in the program. In 2010, 1% = 32 cents.

What if I already have Rx coverage?

If you have Rx coverage through an insurance provider, it may count as "creditable coverage" which will prevent that 1% penalty from accruing. If you already have a Medicare PDP, then you can change plans during the Annual Election Period as mentioned above.

What if I am on Disability?

If you are under age 65 and acquire Medicare due to a disability, then your Rx Open Enrollment Period revolves around the 25th month of your disability. According to Medicare: "you can join during the 3 months before to 3 months after your 25th month of disability."

What Rx / PDP Plans do you offer for 2011?

We are no longer offering any PDP plans until we can figure out how to be compliant with new CMS rules and regulations that have made conducting business remotely (not in person) very difficult to impossible for independent agents and their clients.