Congresswoman Carolyn Maloney - Prescription Drug Calculator

Prescription Drug Calculator

What you'll still have to pay! Calculate your costs under the new Medicare Prescription Drug Law

Step 1: How fast do you think prescription drug expenditures will increase (annually, on average) over the next four years?

or enter your own estimate:

percent

Hints: The recent annual increase has been 17 percent; The Congressional Budget Office projects annual increase of 12 percent; The recent annual increase in overall inflation (Consumer Price Index) has been 2.5 percent. Enter "0" if you don't think drug prices will increase

Step 2: Enter your total yearly drug costs:

Your projected drug expenditures in 2007 ($):

Your projected drug expenditures in 2007 (inflation adjusted) ($):

Your yearly out-of-pocket drug costs under the new Medicare Prescription Drug law ($):

Your cost under the new Medicare Prescription Drug law includes the cost of the annual deductible ($250), the estimated average yearly premium ($35/month = $420/year; but this could vary since the proposal leaves the premium up to private insurers), the 25 percent co-insurance on drug expenses between $250 and $2,250 and the 5 percent co-insurance on expenses over $5100, and the out-of-pocket costs you'll have to bear between $2250 and $5100 (the "doughnut").

Note: Seniors and disabled with retirement income greater than $80,000 (or $160,000 per couple) will have to pay higher Medicare Part B premiums. Low-income seniors with retirement income below 150 percent of the federal poverty level will receive additional subsidies.