Medicare started offering prescription drug coverage to people with Medicare in January 2006. For the first time, medicare recipients can choose a prescription coverage plan, and Medicare will help pay for It. Medicare provides coverage to help pay for both brand-name and generic drugs. In order to get Medicare prescription drug coverage, recipients must choose and join a Medicare drug plan. These plans are offered by insurance companies and other private companies approved by Medicare. The deadline to enroll for 2006 is May 15, 2006 those who wait will not be able to enroll for 2007 until November 2006. If you know someone who may qualify it is important to encourage them to enroll soon.
There are two types of Medicare plans.
- Medicare Prescription Drug Plans that add coverage to the Original Medicare Plan, Medicare Private Fee-for Service Plans that don’t offer Medicare prescription drug coverage, and Medicare Cost Plans.
- Prescription drug coverage that is a part of Medicare Advantage Plans (like a HMO, PPO, or a PFFS Plan) and other Medicare Health Plans. Recipients get all health care, including prescription drug coverage, through these plans.
To find more information about how to make a decision about a Medicare prescription drug plan, Medicare has developed a tool called the Medicare Prescription Drug Plan Finder.
Medicare prescription drug coverage is available to everyone with Medicare. Income, health status, or how prescription drugs today are paid for today doesn’t matter. Anyone with Medicare should make a decision about prescription drug coverage and enroll in a plan even if they don’t use a lot of prescription drugs today. In order, to get the coverage, you must join a plan.
The Medicare Prescription Drug Plan Finder will help Medicare Recipients:
- Learn about the Medicare prescription drug coverage options.
- Find and compare prescription drug plans that meet your personal needs.
- Enroll in one of the prescription drug plans.
The benefits of the Medicare prescription drug coverage include:
- It is available to all people with Medicare.
- It will pay for about half your drug costs.
- Almost 1 in 3 people will qualify for extra help paying for their drug costs.
- It protects you against ever having very high drug expenses.
- It pays for brand-name and generic drugs.
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