Prescription drug plans for people with Medicare are also known as PDP’s or Medicare Part D. These drug plans are written through private insurance companies that have contracted with Medicare to provide this service. There are between 30-40 different plans to choose from just in the state of Texas. We can help you identify the company and the plan that will work best for you based on the prescription medications you are currently taking. You are eligible for Medicare part D or a PDP when you first obtain part A and / or part B Medicare. You can enroll 90 days before or 90 days after first going on Medicare. If you choose not to obtain a Prescription Drug Plan when you are first eligible, you will be faced with paying a penalty if you decide to sign up at a later date. Each year, the annual enrollment period runs from October 15th – December 7th. At that time, you can reexamine your drug plan and will have the option to enroll in a different plan if you choose to do so, or you can continue with the plan you have currently. The prescription drug plan you have chosen for the upcoming year goes into effect on January 1st of the next year. Because the private insurance companies are on a 1 year contract with CMS or Medicare, the plans sometimes change substantially from year to year. It is very important to review your plan each year to make sure you are on the best plan based on your current prescriptions.