Annual Enrollment is coming up. The opportunity to change your Part D prescription drug coverage is November 15 to December 31.  Here are some points to consider:

• Will your Part D premiums increase in 2009?
• Will deductibles and/or co-pays rise?
• Will all the drugs you take still be on your plan’s formulary (list of covered drugs) in 2009?  If they aren’t, they probably won’t be covered by your plan at all.
• Will limitations be imposed on your medications, such as  prior authorization requirements or step therapy (where you have to try other, cheaper drugs before your drug will be covered)?

Medicare has allowed an increase in the initial deductibles the plans can have you pay (if any), and has increased the amount you pay to get out of the donut hole (as well as the amount that you and your plan pay together before you enter the donut hole.)  Within Medicare’s guidelines, virtually all the Part D plans are increasing their premiums and/or co-pays.  It may be that the Part D plan that was best for you and your drugs in 2008 will no longer best fit your needs in 2009.  Some people will save a lot of money by changing Part D plans before year-end.

In October, your Part D plan will send you an Annual Notice of Change letter along with the new formulary and a thick 2009 Evidence of Coverage.  It’s important for you to read the Annual Notice of Change before November 15, and check to see if your drugs are still on the new formulary.  We see many formulary changes every January 1, so looking up your drugs is the most important thing you can do.  If your drugs are all still covered, are they still classified on the same tier?  Do you have a brand name drug that’s been covered with a moderate preferred brand co-pay (usually Tier 2) in 2008, but will be covered with a much higher non-preferred brand co-pay (usually Tier 3) in 2009?  In addition to tier changes, make sure your drugs don’t have any limitations in 2009 that they didn’t have in 2008.

If you find it difficult to find your drugs in your new 2009 formulary list, have someone help you or call the Health Plan Information Center at the Senior Federation after the end of October to help you.  (Federation counselors will not have access to the Part D plans’ 2009 formularies online until the end of October.)

The Annual Notice of Change portion of the packet you receive is only a few pages long, but it’s packed with important information. It will tell you what the new 2009 premium will be, the new deductible amount (if any), the new co-pay amounts, and what to do if your drugs aren’t on the new formulary listing.  It also has information for people who qualify for the Extra Financial Help paying for Part D.

Your opportunity to change Part D plans comes only once per year:  November 15 – December 31.  Check out your plan in October, so you’ll be ready to change if your current plan will no longer be the best one for you in 2009.