Details of standard benefit plans for the Medicare prescription drug program, according to the Centers for Medicare and Medicaid Services, a federal agency, and the private Kaiser Family Foundation. Numerous plans exist across the country that vary significantly:
• Availability: There were 1,429 stand-alone plans available across the country in 2006, broken into regions. Another 1,314 Medicare managed-care health plans included drug coverage. All coverage is through private insurance.
• Participation: Voluntary, except for some low-income seniors who were automatically enrolled if they did not choose a plan. The enrollment deadline for 2006 was May 15, except for seniors who become eligible for Medicare later in the year.
An unknown number of seniors who did not sign up by the deadline face a penalty if they want to enroll at a later date. Lawmakers in both political parties have proposed eliminating the penalty, but no legislation has passed.
• Monthly premium: Varies widely. The administration says the average in 2006 is $24 and will be about the same for 2007.
• Deductible: By federal requirement, capped at $250 in 2006.
• Coverage: Individual pays 25 percent of the cost after the deductible is reached, until total drug costs reach $2,250.
• Doughnut hole: After total costs reach $2,250, the individual pays the complete cost of prescriptions until out-of-pocket spending on drugs reaches $3,600.
• Catastrophic coverage: After out-of-pocket expenses reach $3,600, insurance resumes, and pays 95 percent of costs.
• Low-income subsidies: Part of the program.
Labels: No Prescription, Online Pharmacy, Prescription Drugs
# posted by Network @ 5:23 PM
