Fall Drug-Coverage Checkup

About 55 percent of people with Medicare have signed up for a Part D prescription drug plan. Whether or not your parent is enrolled in one of these plans, it's a good idea to check with her each autumn to see what drugs she's taking and how different Part D plans would cover them.

Why autumn? That's when, every year, each plan puts out a list, called a formulary, of the drugs it will cover during the following year. Plus there's an open enrollment period for Part D drug plans every November 15 to December 31; during that time, your parent can enroll in a Part D drug plan for the first time or switch from one plan to another.

Help your parent make a list of all the prescription drugs she's taking and compare them against the formulary for the plan she's currently enrolled in. Then check them against other plans available where she lives. She'll save the most money by choosing the plan that offers the fullest possible coverage for the drugs she's taking -- not necessarily the plan with the lowest monthly premium.