It may be in your best interest to enroll before the Holiday Season!There are always so many things to think about at the end of the year -- vacation, holidays, family -- everything always seems to be a little bit more hectic.
For many people - enrolling before the end of 2005 makes sense so that your selected plan starts on January 1, 2006 - in that way you can take full advantage of the Medicare Part D program.
If your plan has deductibles and you wait until, let's say March, the prescriptions that you purchased in January and February will not count toward your deductible in your new Part D program. Also, the deductibles run from January to December, so you would only have 10 months instead of 12 applying to your plan.
No current need for Medicare Part D coverage - but you want to enroll and avoid the possibility of a premium penalty?
If you would rather minimize your premium expenses, you could always wait until early May, 2006 before purchasing a minimum costing Medicare Part D plan. In this case, you avoid the premium penalty and, if needed, can always increase your Medicare Part D coverage during the next annual Open Enrollment period (starting November 15, 2006 and running until Decemberl 31, 2006 - the new changes are effective January 1, 2007). The risk is that you may need prescription drug coverage before a Medicare Part D plan or new plan, goes into effect.
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