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Guide to Medicare Part D

Information for Most Medicare Beneficiaries
(annual income over $14,355 for an individual or $19,245 for a couple)
(if No - go back)

Later this year you will be sent information on the new Medicare Part D benefit. It is important to review your options carefully. You have until May 15, 2006, to choose and enroll in a plan without penalty.
If you delay enrollment after that date your premium may be 1% higher for every month you delayed enrollment.

Information for Most Medicare Beneficiaries

2005 TIMELINE

October – You will receive a letter announcing the new Medicare Part D Prescription Drug Coverage and a description of the plans available in California.

November 15 – The first date that Part D plan enrollments can be accepted.

January 1, 2006 – The first day the new Part D plans will cover drugs.

May 15, 2006 – Last day to enroll in a Medicare Prescription Drug Plan without a penalty.

COVERAGE

Premium – About $37/month*

Deductible – First $250 in drug costs per year**

Co-Payment – 25% of next $2,000 in drug costs**

“Donut Hole” (no coverage – you pay all drug costs between $2,250 and $5,100**)
Catastrophic Coverage – you pay 5% of drug costs over $5,100**

* This is only an estimate. Plans with additional benefits may be offered at a higher premium. Not all medications will be covered by all plans. Before choosing a plan, check to see if your medications are covered.

** Countable expenses are for “covered” drugs only. Money spent for drugs not covered by your plan doesn’t count towards the co-payment, deductible, or the “donut hole.”

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HICAP
Health Insurance Counseling and Advocacy
 
Mission
 

To provide accurate and objective counseling, advocacy, and assistance with Medicare, health insurance, and related health coverage plans for Medicare beneficiaries, their representatives, or persons imminent of Medicare eligibility, and to educate the public on Medicare and health insurance issues.
 
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The 1984 State legislation established HICAP under the Department of Aging.
 
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