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| Wilson: NM Seniors Get a Look at Medicare Prescription Choices |
September 23, 2005 |
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| Plans for NM include Choices with Premiums under $20
Washington, DC – Congresswoman Heather Wilson today encouraged New Mexico seniors to begin looking into Medicare-approved prescription plans that can save them money.
“You can sign up for a plan beginning November 15 and begin using your plan in January. Help is available, and it’s worth it to sign up. There are cost-effective choices to help with buying medicine,” Wilson said.
New Mexico seniors with Medicare will be able to get prescription drug coverage in January. They can choose a newly approved stand-alone prescription drug plan that works with traditional Medicare, or a Medicare Advantage plan that offers drug coverage and other benefits.
Today Medicare released the list of approved organizations that will offer prescription drug plans in New Mexico. In New Mexico, 17 organizations will offer stand-alone prescription drug plans, including five with premiums of less than $20 a month. Those five include First Health Life and Health Insurance Company; Humana Insurance Company; Presbyterian Insurance Company, Inc.; Sierra Health and Life Insurance Company, Inc.; and Unicare.
People with Medicare in New Mexico can also get drug coverage with additional benefits and even lower total out-of-pocket costs by enrolling in Medicare Advantage plans. Four Medicare Advantage organizations will provide prescription drug coverage for no additional cost. They are Humana, Inc.; Lovelace Health Plan, Inc.; Presbyterian Insurance Company, Inc.; and United Healthcare.
Prescription drug coverage will be available to everyone with Medicare in New Mexico, regardless of their income or how they get their Medicare coverage. Extra assistance is available to those with limited incomes and resources. Eight organizations in New Mexico will have prescription drug plans available with no premium to low-income seniors on Medicaid or seniors who qualify for extra help not on Medicaid.
All plans approved in New Mexico have met Medicare’s requirements for providing access to medically necessary drugs. All plans are required to provide coverage at least as good as Medicare’s standard coverage, which pays on average 75 percent of drug costs after a $250 deductible up to $2,250 in total drug spending. The coverage also pays approximately 95 percent after $3,600 in out-of-pocket costs to protect against very high drug expenses. This means that for a monthly premium that is lower than expected, Medicare would pay more than half of a typical beneficiary’s drug costs, or more than $1,100.
“If you have a family member or friend on Medicare, please sit down with them and talk about these options, so that they get the savings that they should,” Wilson said.
Look for more information in the coming weeks. Organizations can begin marketing their plans to seniors on October 1. In mid October, the Medicare & You 2006 handbook will be mailed to every Medicare household. Beneficiaries with coverage now, for example from a former employer, should also get information by November 15 on how that coverage will work with Medicare’s new benefits. Beginning in mid-October, Medicare’s website, www.medicare.gov, and its 24-hour toll-free number, 1-800-MEDICARE (1-800-633-4227), will also have information to help beneficiaries find the drug coverage that suits their needs.
Wilson also announced the creation of a section of her website www.house.gov/wilson devoted to Medicare Part D. The website has detailed information to assist seniors in understanding the new benefit, including a step-by-step checklist, a calculator to estimate savings, links to online resources, and a reading library.
“Seniors can use this website and my office as a resource,” said Wilson. “This is just the beginning of what we plan to do to get the word out about the new benefit.”
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