A Step-by-Step Guide
to Medicare Part D's Prescription Drug Plan
May 15th, 2006
If you're like many Americans, the
introduction of Medicare Part D is nothing short of confusing.
By May 15 of this year, if you haven't signed up for the program, you
could end up without drug coverage, or have to pay the penalty for
applying after the deadline. The penalty is a 1% increase in your
premium for each month after May 2006 in which you don't enroll.
The following is a step-by-step guide designed to get down to the basics
of Medicare Part D, cut through the jargon, and tells you exactly what
you need to know.
Step #1: Eligibility. Are you
eligible for Medicare's new prescription drug plan? Simply put, if you
are eligible for Medicare Part A or Part B, you are eligible for Part D.