Medicare Part D Update

A brief summary of the Medicare Part D Prescription Drug Benefit Program The Medical Reform Act (formally the Medicare Prescription Drug Improvement and Modernization Act of 2003) expands health care benefits for Medicare beneficiaries. Accordingly, in January, 2006, Medicare will launch Medicare Part D prescription drug plans (PDPs) to help beneficiaries save on prescription drug costs. In essence, the Medicare Part D Prescription Drug plans are government-sponsored insurance policies (issued by commercial insurance companies), designed to help protect you against the ever rising costs of prescription drugs. Anyone with Medicare Part A or Part A/B can purchase a prescription drug benefit plan through private insurance companies beginning on November 15, 2005. The plans take effect on January 1, 2006. :: Top What are the Medicare Part D Guidelines for the new program? Medicare set the following guidelines for Medicare Part D prescription drug plans, however, available plans may vary from these guidelines. Monthly Premium - $35.00 to $37.00 Paid by the Medicare Beneficiary (actual monthly premiums not yet announced) Annual Deductible - $250.00 - 100% paid by the Medicare Beneficiary Cost of Prescriptions ($251 - $2,250) - 25% Paid by the Medicare Beneficiary - 75% Paid by Medicare Cost of Prescriptions ($2,251 - $5,100) - 100 % Paid by the Medicare Beneficiary - 0% Paid by Medicare More than $3,600 annual out-of-pocket threshold - The Medicare Beneficiary pays the greater of either 5% of the prescription drug costs or $2 for generic prescription drugs and $5 for brand-name prescription drugs. Medicare Part D pays the lesser of either: 95% of the prescription drug costs or the balance of the prescription drug costs. :: Medicare Part D - Online Out-of-Pocket Cost Estimator :: Top The Most Important Dates to Remember November 15, 2005 Enrollment for the Medicare Part D Prescription Drug Benefit Plans begins. November 15, 2005 - May 15, 2006 Medicare Part D - Open Enrollment Period (No medical questions) January 1, 2006 The Medicare Part D Prescription Drug Benefit Plans become effective. At this time you can begin to use the plan that you have selected May 15, 2006 Enrollment (without penalty) for the Medicare Part D Prescription Drug Benefit Plans ends. After May 15, 2006 Medicare Part D Prescription Plan cost will increase (an estimated increase of 1% per month). :: Do you have questions? Visit our FAQs and Customer Helpdesk :: Top Not yet signed up for our FREE newsletter? Sign-up here! Please Enter Your Email Address * Re-enter Your Email Address * Select Your State * Choose State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montona Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming SPAM Filter Activated? If you would like to have our Newsletter properly delivered, please add our email information (Team@NimBroker.com) to your SPAM Filter, Contact List, Sender List, or Address Book. :: Top