Released March 17, 2010
STILLWATER, Okla. – Those who are eligible for Medicare Part D, listen up. There may be more to consider than you realize.
Even if you currently use few or no prescription drugs you may wonder if Part D is worth the sign up.
Eileen St. Pierre, Oklahoma State University Cooperative Extension personal finance specialist, said Medicare Part D is a government program that subsidizes the cost of prescription drugs for eligible Americans. This drug coverage is not just a government benefit but also insurance which protects you against the high cost of prescription drugs if and when you need them in the future.
“When many people are eligible for coverage, they consider signing up later,” St. Pierre said. “There are financial penalties if you enroll later than when you were first eligible to join Part D and if you’ve gone for more than 63 days without other creditable drug coverage. Creditable means your coverage is considered as good as Part D coverage.”
--continued on Oklahoma State University news
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