Medicare's annual open enrollment period began on November 15th and ends Wednesday at midnight. 

Enrolling in a program will cover prescription costs through 2009, but if you miss Wednesday night's deadline you will face a 12-month penalty and there is a no second chance to enroll again until November of 2009. That coverage will then take effect in 2010. If a senior is already enrolled in a plan and has not re-enrolled for the New Year, their prescription coverage from 2008 will roll over. 

There are 48 Part D Plans to choose from for 2009 ...7 plans are no longer available...and three new plans have emerged.
All but 5 prescription Drug plans have increased their premiums for 2009. And only 12 plans offer some coverage of generic drug 

The costs of these Medicare-approved plans, sold by private insurers, vary sharply. That's why it's important for seniors to review their current plan to make sure some drug coverage has not been dropped....or their premium has not changed. 

If you've already enrolled, you should have received an Annual Notice of Change from your health or drug plan. 

For assistance in choosing a plan, click here or call 1-800-Medicare.