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Medicare Part D: Prescription Drug Benefit
How Can Informed Choice Help You?
Informed Choice will hold educational workshops regarding Medicare Part D prescription
drug options. These workshops will help you understand the Medicare Part D program,
and help you evaluate your options.
View Medicare Part D and Reform Workshops
Introducing Medicare Prescription Drug Coverage
Everyone with Medicare is eligible for this coverage, regardless of income level and
resources, pre-existing conditions, or current prescription expenses. A typical person
with Medicare could see his or her total drug expenses drop by about 50%.
Qualified people with limited income and resources will have almost no drug expenses.
How the coverage works
Medicare Prescription Drug Coverage is insurance. Medicare will contract with private
companies to offer this drug coverage. These companies will offer a variety of options,
with different covered prescriptions, and different costs. Costs will vary depending on
which drug plan you choose. Some plans may offer more coverage and additional drugs for
a higher monthly premium.
You choose the drug plan and pay a monthly premium. When you join a plan, Medicare helps
pay the bill. Extra help is available for people with limited income and resources. People
who may qualify will receive an application in the mail this summer.
As with any insurance program, you have options. In Fall 2005, you will receive information
on what your drug plan options are. Although these plans will meet Medicare’s stringent
requirements, they may differ in terms of costs and coverage. If you already have good
drug coverage through a retiree plan or Medicare Advantage Plan, Medicare can provide
help with its cost.
How to join
Join a Medicare Prescription Drug Plan from November 15, 2005 through May 15, 2006.
Enrollment is voluntary. You must join a plan to get the coverage. Just like other insurance,
you can pay less if you don’t wait to sign up. If you don’t sign up with a plan by May 15th,
you may have to pay a penalty. Your next chance will be November 15 through December 31 of each year.
Even if you do not take a lot of prescription drugs now, it’s still good to consider joining.
As we age, most people need prescription drugs to stay healthy. Enrolling now means you pay a
lower monthly premium than if you join after the open enrollment period ends on May 15, 2006.
Here’s how you can get ready to take advantage of this new option
- Look over your current health insurance coverage. Are prescription drugs covered? What
are your out-of-pocket drug costs?
- Keep a list of the name, dosage, and cost of the prescriptions you use. Since different
plans will cover different drugs, this will help you choose a plan that meets your
prescription needs.
- If you have a limited income, check your mail this summer for an application to get
extra help paying for a Medicare prescription drug plan. When you get this application,
fill it out, and return it. Millions of people will qualify for a Medicare prescription
drug plan with little or no premiums or deductibles, and low copayments. You might be
one of them.
- If you have prescription drug coverage through a former employer or union, check with
your benefits administrator. Medicare prescription drug coverage may be different for you.
When can I get more information?
Detailed information about Medicare prescription drug plans in your area will be available in
the fall of 2005. Throughout 2005, Medicare will provide general information to help you get
ready, including how to choose and join a plan that meets your needs. In the fall of 2005,
- you will get the “Medicare & You 2006” handbook in the mail. It will list the Medicare
prescription drug plans available in your area.
- you will be able to get free personalized information at www.medicare.gov on the web,
or by calling 1-800-MEDICARE (1-800-633-4227) to help you choose the plan that meets your needs.
- you can get free personalized counseling from your State Health Insurance Assistance
Program (SHIP), and other local and community-based organizations. Call 1-800-MEDICARE to
get the telephone number of the SHIP nearest you.
Contact Informed Choice for information on Prescription Drug plans available in
Northeastern Wisconsin. Or, attend one of our educational workshops regarding
Medicare Part D prescription drug options. These workshops will help you understand the
Medicare Part D program, and help you evaluate your options.
View Medicare Part D and Reform Workshops
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