Business Insurance

This is referred to as the “Annual Election Period.” It is extremely important that you review your plan annually to make sure it provides the best coverage for your medications. Don’t assume that the plan you have used in 2008 is the best one for next year. Premiums for most plans have increased in cost for 2009 and some plans have dropped coverage of some medications.

Each insurance plan is required to mail an “Annual Notice of Change” to you during October of each year. This notice will give you the information on your premium for the next year along with any premium change. The plan is not required to send you a list of drugs it will cover for that year. You must find out if the prescription drugs you take will be covered by your plan for the next year.

Tags: election period, insurance plan, list of drugs, medicare, medicare prescription drug, medicare prescription drug insurance, medications, premiums, prescription drugs

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