Medicare Part D
 Medicare
Part D Prescription drug plans have been in force since January 1,
2006, and the current coverage period began January 1, 2010. Part D
prescription plans are a resource for senior citizens without
another form of prescription drug coverage. Part D can help people
with high drug costs and offer protection if drug costs rise, or if
you unexpectedly need a prescription.
The Annual Enrollment period for Medicare Part D runs from
November 15 to December 31 each year, at this time you may enroll in
a new plan to be effective January 1st of the following year. For
those newly eligible for Medicare, you can join a Medicare drug plan
from three months before you enroll in Medicare Part B to three
months after your enroll in Medicare Part B (called your Initial
Enrollment Period), otherwise you may receive a penalty for signing
up after your initial enrollment period.
A general overview of Medicare Part D for 2010
(exact costs will differ depending on the Medicare Part D plan you
enroll in for the year):
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$310 deductible.
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You pay a copayment, and your plan pays its
share for each covered drug until what you both pay (plus the
deductible) reaches $2,830.
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When you and your plan have spent $2,830
for covered drugs, you are in the coverage gap. You must pay all
of your drug costs until you have spent $4,550.
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When you have spent $4,550 out‑of‑pocket
for the year, your coverage gap ends. Now you only pay a small
copayment for each drug until the end of the year.
Starting in 2011 there will be changes to Medicare Part D plan
coverage, especially during the coverage gap. Please see the chart
below for an overview of what the brand name drug coverage will look
like in the coverage gap, beginning in 2011 through 2020.
Assistance for Low Income Medicare Beneficiaries
There is additional help for seniors with low incomes and limited assets.
People on Medicare who fall below the income limit will get help paying for
their Medicare drug plan's monthly premium, yearly deductible, and prescription
co-payments. In most cases, if you get extra help, you won't pay a premium, nor
will you have a coverage gap.
You may qualify for Extra Help, also called the low‑income
subsidy (LIS) from Medicare to pay prescription drug costs if your
yearly income and resources are below the following limits in 2009:
Single person—Income less than $16,245 and
resources less than $12,510
Married person living with a spouse and no other dependents—Income
less than $21,855 and resources less than $25,010
If you do not qualify for Extra Help through Medicare, you still
may be able to find assistance with prescription drugs by calling:
(888) 4PPA-NOW (477-2669) or by visiting the program's web site at
www.pparx.org. Information for this article was obtained from the
Medicare Website. For more detailed information visit
www.Medicare.gov.
Information for this article was obtained from the Medicare Website. For more detailed information visit www.Medicare.gov.
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