Medicare Part D Benefits | Medicare Part D Drug Benefit

Benefits of Medicare Part D

There are a few changes in the standard model for Medicare Part D Benefit Plans for 2009. Below is the Medicare Part D Standard Benefit:

INITIAL DEDUCTIBLE: from $275 in 2009 to $295 in 2010
INITIAL COVERAGE LIMIT: from $2,510 in 2009 to $2,700 in 2010 (beginning of donut hole)
OUT OF POCKET THRESHOLD: from $4,050 in 2009 to $4,350 in 2010

The government giveth and the government taketh away!

However, please don’t fret. You have an extra $110 before you hit the donut hole in 2009 and you CAN get a Medicare Part D drug benefit plan with No deductible. We also can give you hints and suggestions on how to save money on your prescriptions that can stretch out the time till you hit the donut hole even farther on your Medicare Part D benefits.

One way to avoid the “donut hole” is to buy your generics OFF your Medicare Part D drug benefit from the start of the year. Wal-Mart and other large retailers are selling certain generics for $4. You can check to see if your medications are on that list and purchase them off your Medicare Part D standard benefit card. This will leave more money in the pot to pay for your expensive brand name drugs using your Medicare Part D benefit plan, causing you to avoid the dreaded “donut hole” even longer.

Please make sure you ask yourself these questions before you join or change your benefits of Medicare Part D during the AEP of November 15th thru December 31st.

Do I currently have a stand alone Medicare Part D Benefit drug plan?

This means that your health coverage, your doctor and hospital coverage is NOT included in your Medicare Part D benefits. IF YOU HAVE A PLAN THROUGH YOUR RETIREMENT, OR YOU ARE ON A MEDICARE ADVANTAGE PLAN INCLUDING DRUGS, YOU CANNOT CHANGE YOUR Medicare Part D benefit DRUG PLAN TO A STAND ALONE PLAN OR YOU WILL LOSE YOUR HEALTH COVERAGE. Please be aware of this important bit of information. You can only change your Medicare Part D standard benefits if you have a stand alone drug plan or you will lose your health coverage benefits. If you want to change your health coverage we can counsel you by calling 866-752-1795 to let you know your choices. YOU CANNOT MAKE MORE THAN ONE CHOICE DURING THE AEP.

Are all my drugs covered on the plan?

At My Part D USA we can check to find the Medicare Part D benefits plan that does indeed cover each and every medication that you take.

What are my co-pays and premiums? Are they the lowest available to me?

One plan may cover your Lipitor for $20 and another may charge $40. You must get a comparison to find out which Medicare Part D drug benefit plan meets your needs at the lowest prices.

Do I want to use mail order?

Some plans have a mail order option you can use to have your drugs delivered right to your door. Some of them also have significant discounts for this feature. If you want to use this service you must compare the mail order discounts on the Medicare Part D drug benefit plan you choose.

Does my plan have a deductible?

Some plans have a $275 a year deductible that you must spend through before your co-pays go into effect. If you do not want a deductible on your benefits of Medicare Part D, you can compare the prices to see which one is best for you.

When does the "donut hole" begin on the plan?

Surprisingly, there are some benefits of Medicare Part D plans that reach the "donut hole" quicker than others. Last year there were Medicare Part D drug benefit plans that hit the threshold at $2,000 instead of the $2,400 amount.