Medicare Sign Up Begins

Medicare Open Enrollment is here -- and it's time for older adults to step up to the plate.

From now until December 7th, they can sign up for Medicare coverage, switch out of their current health plan for a new one, or add prescription drug coverage through Medicare Part D.

Adding Part D coverage is a home run. After signing up, seniors receive affordable access to some of the most advanced medications available. They'll be healthier and more stable financially.

First implemented in 2006, Part D has exceeded all expectations. In its first year, almost 11 million seniors gained comprehensive prescription drug coverage. Today more than 40 million people are Part D beneficiaries and they like it. Nine in ten older adults enrolled reported they were satisfied with their coverage.

Part D is also about prevention and promoting better health. One study showed an 8 percent decrease in hospital admissions among seniors with Part D coverage.

Older adults also can be confident that they'll find a prescription drug plan that matches their individual needs. In 2017, Part D will boast 746 different plans across 34 regions of the country.

That comparison is misinformed. The VA National Formulary maintains low prices by excluding critical new medications from coverage. Only 19 percent of the drugs approved by the FDA since 2000 were covered as of 2005. The vast majority of currently covered drugs are older and potentially less effective than the drugs used throughout the rest of the American healthcare system. Of the top 200 Part D drugs, the VA covers just over 80 percent. By comparison, the two highest-enrollment Part D plans cover nearly 96 percent.

Unlike the lasting celebration of winning a World Series, the Medicare Open Enrollment Period won't stay open much longer. So older Americans shouldn't delay shopping for a drug plan that provides them with affordable, quality medications.