Medicare Part D
Are All Your Drugs Covered?
Are You Saving the Most Money on Your Drugs?
Do you need a FREE cost comparison of the major Medicare Part D Drug Plans?
ARE YOU RETIRING OR NEW TO MEDICARE?
If you are ready to retire and are looking for your Medicare Supplement and Prescription Drug Plan, or shopping for a Medicare Advantage Plan that includes a PDP, we can help you at ANY TIME OF THE YEAR during your open enrollment.
Now that the AEP or Annual Enrollment Period for Medicare Part D drug plans is over, you will be locked in to your drug plan until November 15, 2008, when we will once again have your comparisons and easy enrollment available to you online.
When you enter in your medications now, January 1 thru November 15, 2008, we will contact you with your free Part D drug plan comparison.
You can enroll or change your drug plan "any time of year" if you have a SEP or Special Enrollment Period listed below:
- New to Medicare
- Recently moved to new state or coverage area
- Lost creditable drug coverage
- Approved for/or lost Drug Assistance Program
- In our out of long term care facility or illness rehab
If you are new to Medicare, and are enrolling for the first time in a Medicare Part D plan we can check each drug plan formulary, supplied to us from the Centers for Medicare, to make sure that all your drugs are covered and you have the drug plan that will save you the most money on your co-pays and premium.
If you have moved to a new state, or lost your drug coverage from your retirement program we can help you find the drug plan best suited for your needs.
Also, if you or a loved one are coming or going from a nursing home or Long Term Care Facility you can re-evaluate your plan any time of the year to save the most on your medications.
If you have been diagnosed with an illness and have been in rehab you have 30 days to change your drug plan to cover your new prescriptions at the lowest prices.
We can also help you qualify for EXTRA HELP PROGRAMS and send your application to Social Security.
Have you applied for Medicare Drug Assistance?
YOU MAY ALSO QUALIFY FOR THE MEDICARE DRUG ASSISTANCE PROGRAM!! If you have limited income and limited resources, we can help you enroll in this program that could save you much more than the Part D plan alone. Please fill out the worksheet or you can call us to enroll toll free at 866-752-1795.
| Qualifications | Income | Resources (home & car excluded) |
|---|---|---|
| Single | $15,315 or less | $11,710 or less |
| Married | $20,535 or less | $23,410 or less |
The Facts
This is the third year Medicare has offered a prescription drug benefit. Even if you are not currently spending a great deal out-of-pocket for drugs, the government is encouraging you to join a PDP as soon as you are eligible. WHY? Because there is a strong probability that as you get older your cost for prescription drugs will increase. In addition, there is a penalty of 1% per month for failing to join a drug plan during your enrollment period.
Coverage begins the month following the month you enroll on a Part D drug plan. Anyone can join a PDP as long as they are enrolled in Medicare Part A and/or Medicare Part B. These drug plans are regulated by the Centers for Medicare. After the first year, you can change your plan each year between November 15th and December 31st.
Important Dates
January 1–November 15, 2008 - Special Enrollment Period or (SEP) begins. This SEP is available for those people who enrolled into a Medicare Advantage Plan with a Prescription Drug Plan. If you would like to get information about the differences between traditional Medicare Supplements with a separate PDP and the Medicare Advantage Plans with a built in PDP, please fill out the worksheet or call us directly. We can give you the valuable information you need to make the best decision!
The qualifications for an SEP are as follows:
- New to Medicare
- Recently Moved
- Lost Credible drug coverage
- Approved for/or lost drug assistance program
- In or out of Long Term Care Facility or illness rehab
October 1, 2008 - Medicare Part D Prescription Drug plan shopping can start gathering information and evaluate Part D plans.
November 15 to December 31, 2008 - Here is your chance to join a Part D plan for 2009. If you are happy with the plan you joined for 2008, there is no need to do anything. You will automatically be re-enrolled on the plan you have in force.
Keep in mind that whatever decision you make cannot be changed again until November of 2008, to go into effect for 2009. So, if you want a second opinion, get it NOW!
January 1, 2009 - Your 2009 Medicare Part D plan becomes effective and you will be able to begin using your Part D benefits.
Changes in the Standard Model for Medicare Part D Plans
DEDUCTIBLE: $275 in 2008
COVERAGE LIMIT: $2,510 in 2008 (beginning of donut hole)
OUT OF POCKET THRESHOLD: $4,050 in 2008
Everyone Is Eligible
No matter what your income Medicare prescription drug coverage is insurance that covers both brand-name and generic prescription drugs at participating pharmacies in your area. A typical person with Medicare and no drug coverage could see total drug costs drop by about 50%.
You MUST join Part D for coverage to begin. The sooner you join, the sooner your coverage will begin...and the sooner you start saving money!!! You can pay your premiums by deducting them from your Social Security check just as you do your Part B premiums, or pay them through a bank draft.
