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| Extra Medicine Help for Low-Income Seniors |
November 25, 2003 |
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How much will the Medicare Prescription Drug Plan cost me?
There is a $250 annual deductible and an average monthly premium of $35. After annual out-of-pocket costs exceed $3,600, catastrophic coverage begins.
I live on a low, fixed-income. Will I get extra help?
Yes. Seniors with limited savings and income less than $13,470* for individuals or $18,180* for couples get extra help. If you’re income is less than $12,123* (individuals) or $16,362* (couple), you’ll pay no monthly premium, no deductible, and only $2 for generic or $5 for other prescription drugs, with no coverage limit.
*based on 2003 poverty level figures, which change each year
Do I have to join the Medicare drug plan?
No. The plan is completely voluntary.
When will the plan take effect?
Full coverage begins in 2006, but beginning next year seniors can receive a prescription drug discount card that will cut prescription drug costs by 10%-25%. An annual $600 credit will be added to the discount cards of low income seniors.
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