Prescription Drugs
Under the Republican-led Congress, in 2004 for the first
time in history, every senior in America had access to affordable
prescription drug assistance. Since
passage of this important legislation, the Medicare Prescription Drug Improvement
and Modernization Act (MMA), seniors have saved thousands of dollars on their
life-saving prescription drugs, and the new program has received resounding
support.
If you are over 65, there are two open enrollment periods
every year in which you may sign up for prescription drug assistance. During those open enrollment periods, you are
able to review your current plan or choose a new one that better meets your
needs. For an average of $24 per month,
Medicare will cover 75% of your prescriptions between $250 and $2,250. Medicare will even cover 95% of your
catastrophic prescription drug costs, above $3,600.
In 2007, if you are single and make less than $15,315 or are
married and make less than $20,535, Medicare will offer additional help with
your prescription drug costs. These
limits increase every year, so be sure to check with your local Medicare office
for the most up-to-date numbers. The
premiums will be lower, the co-payments are reduced, and you will have no gap
in coverage. If Medicaid already covers
your prescription drugs, the new benefit will automatically pay for your
prescriptions.
This benefit is completely voluntary – if you already have
comparable prescription drug coverage from an employer, you can keep it. If you do not have prescription drug coverage
and you did not join by your next eligible enrollment date, you will be
penalized a small amount for every month you delay. This penalty usually amounts to about 27
cents per month, or an additional $2.00 on your future monthly premiums. Please know that if you meet the low-income
qualification standards, or if you currently have qualifying prescription drug
coverage, you will not be assessed a penalty if you sign up in the future.
I encourage you to look through the plans available in Florida. This voluntary benefit is estimated to saves
seniors up to half on their prescription drugs.
If you have any questions about the Medicare Prescription Drug plan,
please contact the Medicare offices at 800-MEDICARE or visit
www.medicare.gov. You may also contact a
local SHINE representative at 800-262-2243.
Related
Documents:
On the Hill, Off the Cuff
-
HELPING 5TH DISTRICT SENIORS WITH HEALTH CARE COSTS
11.7.2008
On the Hill, Off the Cuff
-
MEDICARE PART D PREMIUMS 37 PERCENT BELOW EXPECTATIONS – SAVING 5TH DISTRICT SENIORS MONEY
9.19.2008
Press Release
-
REP. BROWN-WAITE STATEMENT ON BUSH ADMINISTRATION BUDGET PROPOSALS TO HIKE FEES AND COPAYMENTS FOR VETERANS
2.5.2008
On the Hill, Off the Cuff
-
ANNUAL COST OF LIVING INCREASE MUST TAKE SENIORS’ NEEDS INTO ACCOUNT
11.30.2007
On the Hill, Off the Cuff
-
HOW CAN GINNY HELP YOU? – MEDICARE PART B
2.23.2007
More Documents...
Related Files:
Seniors Support the Medicare Part D Plan
Medicare Part D Deadline Approaching
Medicare Prescription Drug Benefit
Medicare Prescription Drug Benefit
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