Medicare Part D

PRESCRIPTION DRUG INSURANCE
Medicare Prescription Drug Insurance...

• Helps people with Medicare pay for the prescriptions they need.
  
  
• Is available to all people with Medicare (regardless of income, health condition).
  
  
• Provides 'extra help' for people who need it most (make application).
  
  
• Pays for most brand name as well as generic drugs.
  
  
• Offers no insurance plan that is 'best' for all.
  
  
• Offers coverage at cost-savings and/or for peace of mind.
  
  
• Has an Annual Open Enrollment from November 15 to December 31 each year when beneficiaries are allowed to switch plans without penalty. Coverage resumes under the new plan year on January 1.
  
  
• Is available to those during their initial enrollment into Medicare; you will pay a penalty of 1% per month of the national average premium if you do not enroll when eligible.
  
  
• Plan comparisons can be confusing - use the Drug Plan Finder to compare insurance plans and/or contact SDSU Extension for help.

• The cost of prescription drugs has spiraled upward for the past several years. In an attempt to provide help to elderly Americans with their prescription drug costs, the Medicare Prescription Drug, Improvement and Modernization Act of 2003 was passed. It is estimated that 95.4% of all South Dakotans with Medicare (or about 120,000) have enrolled in Medicare Part D for prescription drug insurance coverage during the initial open enrollment period.

• It is very important that South Dakotans with Medicare (age 65 and/or disabled) take the time EVERY YEAR to carefully consider enrollment in a Medicare Part D Prescription Drug Insurance Plan. 

• If you are not on Medicare, do you have friends or family members who could benefit from this information? Give them the gift of your concern; help them determine which plan would best cover their prescription drug insurance needs.