Medicare Part D is a precription drug benefit sold by private companies that sell plans approved by Medicare. Some companies offer plans that have national coverage, which is important for beneficiaries who travel or have residences in more than one state.
In 2011, the MEDICARE Part D Annual Enrollment Period is changing to October 15 through December 7.
Medicare beneficiaries already enrolled in a drug plan can switch to a different plan, with coverage effective January 1.
Medicare beneficiaries can also change between original Medicare with a drug plan and a Medicare Advantage plan with prescription drug coverage (MA-PDP).
To enroll in a Medicare Part D plan, you must have you Medicare number, effective date of Madicare Part B coverage, date of birth, zip code, and a list of all PRESCRIPTION medications including dosages and strengths.
Medicare beneficiaries with Part D coverage in the donut hole will recieve a 50% discount on brand-name drugs in 2011.
Low Income Subsidy
Do you know someone who is on Medicare and needs assistance in paying for their prescription drugs?
Medicare beneficiaries may be eligible for the federal “Extra Help” Low Income Subsidy (LIS) program if he/she has limited income and resources. The program can pay for all or part of the monthly premiums, annual deductibles and Medicare Rx drug cost. To qualify for Extra Help, the annual income limit is $16,245 ($1,353 monthly) for an individual and $21,855 ($1,821 monthly) for a married couple living together. Additionally, the total resources limit is $12,640 for an individual and $25,260 for a married couple living together. The resource limit does not include a primary home or a vehicle. If you know someone who may qualify, please encourage them to apply on-line at www.socialsecurity.gov , contact the local Area Agency on Aging Office or call our office toll free at 800-868-9095 to seek assistance with completing the on-line application or to request a paper application.
THINGS TO REMEMBER
- If you missed your Medicare Part B enrollment date, you can enroll in Part B during the general enrollment period which is January 1 through March 31 yearly; the effective date of coverage is July 1.
- Check with your doctors before enrolling in a Medicare Advantage plan to be sure the plan is accepted.
- Make sure Medicare Advantage costs such as copays and deductibles are affordible.