Open enrollment begins Nov. 15 for Medicare

No sooner did we finish explaining the ins and outs of Medicare's new prescription-drug plan than it's time to reconsider your alternatives. Open enrollment for Medicare Part D runs from Nov. 15 to Dec. 31, and it's your only opportunity to change plans before you're locked in for 2007.

Even if you're happy with your plan, one of the new choices may be a better deal than your current option, especially if you've been prescribed new drugs over the past year. But don't delay. You technically have until Dec. 31, but it's best to make your decision by Dec. 8 to avoid last year's administrative nightmares. Private insurance companies that sell Part D coverage are starting to market their 2007 options, and new pricing information will be listed on the Medicare Web site, www.medicare.gov.

Your best resource is still the Medicare prescription-drug-plan finder (www.medicare.gov/mpdpf) — now called Medicare Options Compare — which lets you enter the names of drugs you take and figure your potential out-of-pocket costs for the plans in your area. To access personalized information about your current plan and to modify your drug list, sign up for MyMedicare.gov.

If you need individualized assistance, State Health Insurance Assistance Programs (SHIPs) have again organized an army of volunteers to walk you through your choices. Call 800-633-4227 for local contact information, or go to the Medicare home page and from Search Tools click on "Find Helpful Phone Numbers and Web sites."

The bad news: For the first time, premiums for Medicare Part B, which covers doctor visits and outpatient hospital care, will be based on income, and higher-income seniors will pay more. Couples with incomes of less than $160,000 (generally based on adjusted gross income plus tax-exempt interest income reported on your 2005 tax return) and single filers with less than $80,000 will pay $93.50 per month for Part B, up from $88.50 in 2006. If you reported higher income, you'll pay from $106 to $162 per month. The top rate is for individuals earning more than $200,000 and couples with incomes over $400,000.

While you're reviewing your prescription-drug options, take a look at Medicare Advantage plans in your area. These plans provide all-in-one medical coverage, eliminating the need for Medicare plus a medigap policy and a Part D prescription-drug plan. Thanks to generous government subsidies, premiums have remained low. Check out Medicare Advantage and medigap options in your area at Medicare.gov's personal plan finder, www.medicare.gov/mppf.