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Medicare Part-D is a federal prescription drug program for Medicare eligible participants. Plan premiums and coverage vary depending on where you live and the plan that you select.
Generally Part-D plans include generic, brand and preferred drugs up to $2,510 per year. Most plans will have copays or co-insurance for a one or three month supply. Some plans include generic drugs through the "donut hole" which is between $2,510 and $4,050 in 2008. These numbers are subject to change each year as determined by The Centers For Medicare and Medicaid Services also referred to as CMS. It is important to review the insurance companies prescription drug formulary prior to selecting a plan to be sure that your drugs are covered. Each companies formulary may be different or cover certain Rx drugs on a different tier level which may affect your overall cost. You may qualify for a Part-D subsidy program if you have a low annual income. Each state has different programs. You may make changes in your Part-D plan annually between Nov. 15 and Dec. 31. 2008 Medicare Part D Plans Click A link below If one of these links takes you to a form this means that we will need more information in order to give you accurate information and enrollment materials. The rate and benefits for Medicare Insurance Plans are determined based on your specific area. We have all of this information available to you and will help you through the process. There is no cost to you for this service. 2008Detailed Plan Information (Specifics) 2008 Enrollment Kit 2008 AARP Part D Plans NEW!! AHIP 2008 Medicare PartD Guide New!! 2008 Part D Enrollment Kit Extra Help Healthnet Orange 2008 click here For 2008 Part D Plan Information click here Enrollment Enrollment for most beneficiaries is voluntary. The initial enrollment period takes place each November 15, through December 31. Potential beneficiaries who did not enroll by the December 31, deadline (or within 3 months after their initial eligibility date) will incurr a late enrollment penalty of 1% per month based on the National average cost of the premium until their enrollment. Annual enrollment periods for Medicare Part D begin on November 15th of the prior plan year. The initial enrollment period for the second year of Medicare Part D started November 15, 2006. In its first year, beneficiaries eligible for both Medicaid and Medicare (dual eligibles) were transferred from Medicaid prescription drug coverage to a Medicare Part D plan on January 1, 2006. Hundreds of Medicare prescription drug plans are available, allowing participants to choose a plan that best meets their individual needs. Plans can choose to cover different drugs, or classes of drugs, at various co-pays, or choose not to cover some drugs although the Center for Medicare and Medicaid does require that all plans meet certain formulary requirements. Medicare has made available an interactive online tool called the Prescription Drug Plan Finder that allows for comparison of drug availability and costs for all plans in a geographic area. The Prescription Drug Plan Finder can be used to perform a personalized or general search for plans; in either case, the tool allows one to enter a list of medications along with pharmacy preferences. Many enrollees criticize the Prescription Drug Plan Finder as complex to use, especially for many Medicare beneficiaries who have limited computer skills and internet access. I have received feedback from family members of clients stating that even they had a difficult time navigating through this tool. We have custom software at our office and will perform the plan searches for you to eliminate this frustration.
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