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Understanding the Medicare Prescription Drug Plan

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Updated: February 01, 2006

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Important Enrollment Dates

  • In October 2005 Medicare provided beneficiaries with information on the prescription drug benefit and companies providing plans were allowed to start marketing their plans.
  • November 15, 2005 - first day to enroll in Medicare Part D.
  • January 1, 2006 - first day to use Medicare Part D
  • May 15, 2006 - last day for Medicare eligible beneficiaries to sign up for Medicare Part D without incurring a penalty.
  • November 15, 2006 through December 31, 2006 is the next open enrollment date for Medicare Part D. At this time you can switch to a new plan (effective date will be January 1, 2007).

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