 |
Do you have
adequate insurance coverage? (Health care, Long-term care and Life insurance
to match your needs?) |
|
lAre you
aware of the high cost of elder care? |
(Home care services,
nursing home and medication costs)?
_____________________________________________________________________________________________________________
Medicare Prescription Drug Plan D:
What is Medicare prescription drug coverage?
Medicare prescription drug coverage is insurance that covers both brand-name and
generic prescription drugs at participating pharmacies in your area. Medicare
prescription drug coverage provides protection for people who have very high
drug costs or from unexpected prescription drug bills in the future.
Who can get Medicare prescription drug
coverage?
Everyone with Medicare is eligible for this coverage, regardless of income and
resources, health status, or current prescription expenses.
When can I get Medicare prescription drug
coverage?
You may sign up when you first become eligible for Medicare (three months before
the month you turn age 65 until three months after you turn age 65). If you get
Medicare due to a disability, you can join from three months before to three
months after your 25th month of cash disability payments. If you don't sign up
when you are first eligible, you may pay a penalty. If you didn't join when you
were first eligible, your next opportunity to join will be from November 15,
2008 to December 31, 2008.
How does Medicare prescription drug coverage
work?
Your decision about Medicare prescription drug coverage depends on the kind of
health care coverage you have now. There are two ways to get Medicare
prescription drug coverage. You can join a Medicare prescription drug plan or
you can join a Medicare Advantage Plan or other Medicare Health Plan that offers
drug coverage.
Whatever plan you choose, Medicare drug coverage will help you by covering
brand-name and generic drugs at pharmacies that are convenient for you.
Like other insurance, if you join, generally you will pay a monthly premium,
which varies by plan, and a yearly deductible. You will also pay a part of the
cost of your prescriptions, including a copayment or coinsurance. Costs will
vary depending on which drug plan you choose. Some plans may offer more coverage
and additional drugs for a higher monthly premium. If you have limited income
and resources, and you qualify for extra help, you may not have to pay a premium
or deductible. You can apply or get more information about the extra help by
calling Social Security at 1-800-772-1213 (TTY 1-800-325-0778).
Why should I get Medicare prescription drug
coverage?
Medicare prescription drug coverage provides greater peace of mind by protecting
you from unexpected drug expenses. Even if you don't use a lot of prescription
drugs now, you should still consider joining. As we age, most people need
prescription drugs to stay healthy. For most people, joining now means
protection from unexpected prescription drug bills in the future.
Medicare
www.medicare.gov
Social Security Administration
http://www.ssa.gov/prescriptionhelp
Medicare Rights Center
www.medicareinteractive.org
Retirement
Financial
Planner Steven A. Ludsin, Esq.
Ludsin@gmail.com
