|
What is Medicare prescription drug coverage?
Medicare prescription drug coverage is insurance that covers
both brand-name and generic prescription drugs at participating
pharmacies in your area. Medicare prescription drug coverage
provides protection for people who have very high drug costs.
Who can get Medicare prescription drug coverage?
Everyone with Medicare is eligible for this coverage, regardless
of income and resources, health status, or current prescription
expenses.
When can I get Medicare prescription drug
coverage?
You may sign up from November 15, 2006 to
December 31, 2006. Your coverage will start January 1, 2007. If you
don't sign up when you are first eligible, you may pay a penalty.
Your next opportunity to enroll will be from November 15, 2007 to
December 31, 2007. Enrolling by December 8, 2006, can help ensure
you can use your coverage as soon as you need it after it
starts.
How does Medicare prescription drug coverage
work?
Your decision about Medicare prescription drug
coverage depends on the kind of health care coverage you have now.
There are two ways to get Medicare prescription drug coverage. You
can join a Medicare prescription drug plan or you can join a
Medicare Advantage Plan or other Medicare Health Plan that offers
drug coverage.
Whatever plan you choose, Medicare drug coverage will help you by
covering brand-name and generic drugs at pharmacies that are
convenient for you.
Like other insurance, if you join, generally you
will pay a monthly premium, which varies by plan, and a yearly
deductible (between $0-$265 in 2007). 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. You can apply or get more information about the extra
help by calling Social Security at 1-800-772-1213 (TTY
1-800-325-0778) or visiting www.socialsecurity.gov .
Why should I get Medicare prescription drug
coverage?
Medicare prescription drug coverage provides
greater peace of mind by protecting you from unexpected drug
expenses. Even if you don't use a lot of prescription drugs now, you
should still consider joining. As we age, most people need
prescription drugs to stay healthy. For most people, joining now
means protection from unexpected prescription drug bills in the
future.
What if I have a limited income and resources?
There is extra help for people with limited income and
resources. Almost 1 in 3 people with Medicare will qualify for extra
help. Medicare will pay for almost all of their prescription drug
costs. You can apply or get more information about the extra help by
calling Social Security at 1-800-772-1213 (TTY 1-800-325-0778) or
visiting http://www.socialsecurity.gov/prescriptionhelp/.
Visti the Medicare Prescription Drug Coverage
homepage
|