Medicare Part D is a federal program that offers
prescription drug coverage to anyone with Medicare. Today, thirty-two million
Medicare beneficiaries, more than half of those enrolled in Medicare, received
their prescription drug coverage through Medicare Part D as of September 2012.
This year, there has been a lot of debate about the new
health care law. Here's what you need to know:
- Anyone
who is eligible for Medicare may join a Medicare prescription drug plan to get
help paying for prescription drug costs.
- The
health reform law calls for gradually lowering out-of-pocket costs when seniors
enrolled in Medicare Part D reach the coverage gap, otherwise known as the
"doughnut hole."
- Beginning
in 2011, enrollees who reached the gap began receiving a 50% manufacturer
discount on the total cost of brand-name drugs and additional subsidies for
generic medications.
- Medicare
will phase in additional subsidies for brand-name drugs beginning in 2013.
If you qualify for Medicare, you only have until December
7, 2012 to either sign up for or switch your Medicare prescription drug
coverage. There are a number of prescription drug plans to choose from, so
Medicare beneficiaries can't afford to miss the opportunity to make a choice
that is best for them.
For more information, go to www.medicare.gov or call 1-800-MEDICARE (1-800-633-4227).
