Medicare Prescription Drug Plan

You are entitled to Medicare Prescription Drug Plan if you are enrolled in Medicare, regardless of your income, health status, or prescription drug usage.

The Medicare drug benefit provides coverage for brand name and generic prescription drugs at participating pharmacies in your area.

It is designed to protect you from unexpected drug expenses. Seniors with average drug expenses will spend about half of what they previously spent on prescription drugs.

Medicare provides extra help to beneficiaries with high prescription costs. Medicare covers 95 percent of all prescription drug costs once beneficiaries spend $3,600 of their own money in a given year.

How does the Medicare Prescription Drug Plan Work?

There are a couple of ways you can avail of the Medicare prescription drug benefit.

You can either join a Medicare prescription drug plan or join a Medicare Advantage Plan or other Medicare health plans that provide drug coverage.

If you join, you will pay a monthly premium, which varies by plan (the national premium average is $27/month), and a yearly deductible (no more than $250 in 2006). You will also pay a part of the cost of your prescriptions, including a copayment or coinsurance.

Costs will vary depending on which drug plan you choose. Some plans may offer more coverage and additional drugs for a higher monthly premium.

If you have limited income and resources, and you qualify for extra help, you may not have to pay a premium or deductible and wll not experience gaps in coverage. On average, Medicare will pay for more than 95 percent of the prescription drug costs for low-income seniors.

You can get more information or apply for subsidies by calling the Social Security Administration at 1-800-772-1213 or by visiting www.ssa.gov/prescriptionhelp/. Eligibility forms are also available at locations around the country, including over 30,000 pharmacies.

Sign ups for Medicare Prescription Drug Plan started in November 15, 2005, and will continue until May 15, 2006. If you don't sign up when you are first eligible or by May 15, 2006, you may pay a penalty. Your next opportunity to enroll is from November 15, 2006 to December 31, 2006.

For more information about the Medicare Prescription Drug Coverage, you can go to: www.medicare.gov.



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