It’s time to seniors to consider prescription plans

Open enrollment for Medicare Part D - the prescription drug plan - begins Sunday and continues through Dec. 31.

Medicare beneficiaries must be proactive as they plan for the future, says Mary Loftis, an extension education for University of Nebraska Extension in Burt County.

She recommends all people with Medicare review the 2010 costs and coverage of their current drug plan, compare with other plans offered in their area, and choose a plan that best meets their needs and budget. New Medicare enrollees should also determine what plans are available to them, what costs are involved and steps necessary to enroll.

Loftis suggests these things to consider when choosing a Medicare drug benefit for 2010:

* Other coverage: Do you have or are you eligible for other prescription drug coverage? Coverage through a former or current (or spouse’s) employer plan, union, veteran’s or federal plan may qualify as creditable coverage meaning you do not need a Part D plan. Will you pay a penalty if you join a drug plan later?

* Cost: How much are the monthly insurance premiums, annual deductible, co-pays for each classification of drugs?

* Prescription drugs: What are your drug needs? What will your prescription drugs cost under each plan? Are your drugs covered under the plan’s formulary? Does the plan require step-therapy, or is there a quantity limit? Does your plan cover specialty medications? Those are important factors to consider for all Medicare beneficiaries, but more important for people with certain health issues.

* Convenience: Which pharmacies can you use? Does your local pharmacy work with your plan or will choosing a new pharmacy be necessary? Can you get prescriptions by mail if you choose to do so?

* Coverage gap: Will the cost of your medications put you in the donut hole? For 2010, the coverage gap begins when the total cost of drugs paid by you and your insurance plan reach $2,830. There is no coverage during the coverage gap; the beneficiary pays 100 percent of the next $3,610. When total drug costs have reached $6,440 catastrophic coverage begins; the drug plan pays 95 percent and the beneficiary pays 5 percent of drug costs until the end of the year.

* Travel: Will the plan cover you in another state?

The University of Nebraska-Lincoln Extension and the Nebraska Department of Insurance, Senior Health Insurance Information Program are partners in ensuring Nebraska Medicare beneficiaries and their families are informed about the Medicare prescription drug benefit, make choices and enroll in a plan that best fits their individual medical and financial needs.

Contact your local Extension office for information about Medicare Part D enrollment opportunities in your area.