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Tuesday, October 27, 2009 9:44 PM

ALDERMAN: Choosing the right Medicare drug plan

By JASON ALDERMAN, Practical Money Matters

Prescription drug costs can take a double toll on retirees, who often live on fixed incomes and also are likely to need more — and more costly — medications as they get older. That’s why the government created Medicare Part D, a voluntary program that subsidizes prescription drugs for Medicare recipients.

If you’re eligible for Medicare, be aware that the six-week annual Part D open enrollment period for 2010 takes place from November 15 through December 31, 2009. Except in a few circumstances, if you miss that window you’ll need to remain in your current plan until 2011.

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