Dear Liam,

You’re right on time to compare drug plans and enroll in a new one for next year. October 15 to December 7 is the Open Enrollment Period during which you can compare your current plan to others available in your area and sign up for the one that best meets your needs in the new year.

First, you’ll want to find out how your current plan will be changing in the next year. Keep an eye out for a letter from your plan that will explain how the plan’s drug coverage and costs will change next year. You should think about whether your current plan will continue to meet your needs.

To compare your current plan to others in your area, you can use Medicare’s online Plan Finder. Plan Finder lets you compare the stand-alone Part D plans and Medicare Advantage Plans available to you. It provides information about which drugs are covered on the plan’s formulary, costs (including monthly premiums and out-of-pocket costs), and star ratings (which provide information about plan quality and operations). This information can help you decide if there’s a plan available in your area that better meets your needs.

To use Plan Finder:

• Go to www.medicare.gov, scroll down, and click on the green button that says, “Find Plans Now.”
• You can perform a general search on the right side of the page by entering your zip code. If you’d like to save your drugs and pharmacy information, you can log into or create a Medicare account on the left side of the page.
• After entering your zip code, choose the type of plan you are looking to compare: a Medicare Advantage Plan, a Medicare drug plan, or a Medigap policy.
• Next, enter the drugs you take (or expect to take next year) and choose your pharmacies, including whether you are interested in getting your prescriptions by mail.

Plan Finder will show you a list of plans in your area with information about what you will pay based on the information you entered. Initially, the results will be sorted to show you the plan with the lowest combined premium and out-of-pocket drug costs at the top of the page.

Combining the premium payment with the expected monthly out-of-pocket drug costs estimates what you can expect to pay for Part D coverage and to get the drugs you entered for the year.  If any of your drugs are not covered by a plan, that will be reflected on the results page. You can select “Plan Details” to find out more specifics about coverage, including any coverage restrictions that might apply to your drugs. You can also use the Plan Finder tool to predict your monthly costs in the Medicare Prescription Payment Plan, an optional program that allows you to spread your out-of-pocket costs across the year.

Once you’re ready to enroll, it’s a good idea to call the plan directly to confirm any information you read on Plan Finder, as errors are always possible. Here is a list of questions you can ask when calling a company about their prescription drug coverage. You can enroll in a plan online, by calling 1-800-MEDICARE (633-4227), or by calling the plan directly. Coverage begins January 1.

-Marci