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Medicare Part D Prescription Drug Program!
The first year of the new Medicare Prescription drug
program has come and gone with success. Americans saved
millions of dollars in prescription drug costs and the
plan came in under budget according to government surveys.
This is a strong statement for this new program especially
in a time of escalating medical costs nationwide. The
insurance companies competing for Medicare subscribers
was cited as a main reason for the success.
If you would like a quote on available plans,
E-MAIL
us this information:
1. Your State.
2. Your Zip Code.
Frequently
asked questions:
 What
is the donut hole?
This is the gap in which the Part D plan stops
paying for prescriptions. This is after the plan has
paid the first $2,250 in drug costs. This includes the
amount the insurance company paid plus the Medicare
recipient’s co-pays for their prescriptions. There
is also a catastrophic coverage that begins after the
policyholder reaches the other side of the donut hole
(approximately $3,500).
Some insurance companies offer coverage during
the donut hole, CONTACT
US for details.
How Do I Enroll?
There is an annual enrollment period during November
15th through December 31st each year. At that time one
can change their current plan or buy a plan for the
first time. Most companies offer two or three levels
of benefits to choose from. The annual enrollment period
allows for Medicare recipients to upgrade their benefits
if they find their prescription drug costs have increased
during the year. Shopping for different plans at this
time can save on premiums as insurance companies will
offer different prices for the same or better benefits.
What Is The Penalty For Not Enrolling?
Medicare does not have a set price but states that there
is a 1% penalty per month for those enrolling after
1/1/07. The penalty was waived last year and remains
to be seen if it will be enforced this year. Medicare
recipients who have prescriptions drug benefits through
an employer or government plan will not be charged a
penalty when enrolling in the Part D program for the
first time.
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