Monday marks the beginning of Medicare’s annual enrollment program which is expected to see hundreds of thousands of people choosing new plans due to the elimination of their current plan.

The enrollment will benefit millions who are new to it and those who have not re-evaluated their plans in a long time to choose the best coverage for their needs.

It has five parts; Part A (hospital coverage), Part B(medical services) Part C(Advantages) Part D (prescription drug coverage) and supplemental coverage (Medigap).
The FAQs for its Annual enrollment are;
Significant changes for 2011
The biggest changes arise from the Patient Protection and Affordable Care Act of 2010, which is a healthcare reform law. Here, part B will cover preventive care and services, meaning patients won’t have to pay for preventive and wellness visits.

Also, prescription drug plans will offer a 50% discount for the cost of brand-name prescription drugs and 7% for generic drugs during the coverage gap.

Options change for the next year
As said earlier, most beneficiaries will have fewer plan options as a result of the elimination of about 13% of pre-existing plans. In addition, 30% of prescription drug plans have been discontinued.

Costs variation
Existing beneficiaries will continue to pay about $96.40 or $110.50 for Part B while first timers will pay $115.40 monthly. Prescription drug plan premiums will increase by an average of $1 while Medicare Advantage plans are expected to decrease by 1%.

Why change plans
Reasons for changing plans are; change in health status, discontinuation of the current plan, or the inability of your current plan to meet your needs.

Annual enrollment changes
One can change plans, move from a Medicare advantage plan to a traditional Medicare plan or even incorporate a prescription drug plan to their coverage.

Changing plans during the annual enrollment
One must identify and enroll in a new plan by the first of January, 2011. One can employ the services of an objective specialist to help them choose or do it themselves.

More information on annual enrollment can be garnered from a Medicare Advantage or its Part D plan provider by all beneficiaries of the program.

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