Fact #1 Medicare Part d in 2011 will be much the same as it was in 2010 with one significant difference. The expense of the coverage gap will be reduced. Before January 1, 2011, if you went into the donut hole, as the coverage gap is known, you paid 100% of the cost for brand name and generic medications. Although the coverage gap has not been eliminated, in 2011, if you go into the donut hole, you will pay 50% of the cost for brand name drugs and get a 7% discount off of generics. Over the coming years the donut hole will gradually be reduced until it is gone completely in 2020.
Fact #2 Be sure to contact your drug plan if you want your premium deducted from your monthly Social Security payment. Your first deduction will usually take 3 months to start, and 3 months of premiums will likely be deducted at once. After that, only one premium will be deducted each month. You may also see a delay in premiums being withheld if you switch plans. Normally, you choose a payment option at the time you sign up, but if you want to change how you pay the premiums, you must call the drug plan to make different arrangements.
Fact #3 One important fact that not all Medicare beneficiaries are aware of is that if your Medicare Advantage Plan includes prescription drug coverage and you join a Medicare Prescription Drug Plan, you will be disenrolled from your Medicare Advantage Plan and returned to Original Medicare. This can be a bit confusing. If you join a Medicare Advantage Plan and you want drug coverage, you must accept the drug coverage offered by the plan if it includes drug coverage. There is no choice about this. There are 3 exceptions, however. If you join a PFFS plan, Cost Plan, or MSA plan that does not include drug coverage, then you can add a stand-alone prescription drug plan. In all other cases, you cannot do this.
Fact #4 There are 3 basic ways to sign up for a plan. You can request a paper application from the Plan, fill it out and mail it back to the Plan. When you do this, your Plan will start the first day of the month following the month the plan receives the application. For example, you mail the application back to the plan on September 27 and the Plan receives it on October 3. The Plan will start on November 1, which is the first day of the month following the month the Plan received the application. The second way to enroll is to simply call the plan or sign up on the Plan website. The third way to sign up is by calling Medicare at 1-800-633-4227.
Fact #5 Most drug plans charge a monthly fee that varies by plan. You pay this in addition to the Part B premium. If you belong to a Medicare Advantage Plan, such as an HMO, PPO, PFFS or a Medicare Cost Plan that includes Medicare prescription drug coverage, the monthly premium may include the premium amount for Part d if the plan includes drug coverage. Some of the Advantage plans do not charge an extra premium for Part d, so you do have to look carefully at the prices.
Fact #6 Over the last few years, freelance agents representing the various Medicare prescription drug plan and Medicare Advantage Plans have frequently engaged in unethical marketing practices. Medicare does work on putting a stop to this. I want to make very clear that no one should call you or come to your home uninvited to sell Medicare products. For more information about how to protect yourself from identity theft and fraud and what to do if you believe a Plan or Plan representative has misled you, call Medicare at call 1-800-633-4227.
Fact #2 Be sure to contact your drug plan if you want your premium deducted from your monthly Social Security payment. Your first deduction will usually take 3 months to start, and 3 months of premiums will likely be deducted at once. After that, only one premium will be deducted each month. You may also see a delay in premiums being withheld if you switch plans. Normally, you choose a payment option at the time you sign up, but if you want to change how you pay the premiums, you must call the drug plan to make different arrangements.
Fact #3 One important fact that not all Medicare beneficiaries are aware of is that if your Medicare Advantage Plan includes prescription drug coverage and you join a Medicare Prescription Drug Plan, you will be disenrolled from your Medicare Advantage Plan and returned to Original Medicare. This can be a bit confusing. If you join a Medicare Advantage Plan and you want drug coverage, you must accept the drug coverage offered by the plan if it includes drug coverage. There is no choice about this. There are 3 exceptions, however. If you join a PFFS plan, Cost Plan, or MSA plan that does not include drug coverage, then you can add a stand-alone prescription drug plan. In all other cases, you cannot do this.
Fact #4 There are 3 basic ways to sign up for a plan. You can request a paper application from the Plan, fill it out and mail it back to the Plan. When you do this, your Plan will start the first day of the month following the month the plan receives the application. For example, you mail the application back to the plan on September 27 and the Plan receives it on October 3. The Plan will start on November 1, which is the first day of the month following the month the Plan received the application. The second way to enroll is to simply call the plan or sign up on the Plan website. The third way to sign up is by calling Medicare at 1-800-633-4227.
Fact #5 Most drug plans charge a monthly fee that varies by plan. You pay this in addition to the Part B premium. If you belong to a Medicare Advantage Plan, such as an HMO, PPO, PFFS or a Medicare Cost Plan that includes Medicare prescription drug coverage, the monthly premium may include the premium amount for Part d if the plan includes drug coverage. Some of the Advantage plans do not charge an extra premium for Part d, so you do have to look carefully at the prices.
Fact #6 Over the last few years, freelance agents representing the various Medicare prescription drug plan and Medicare Advantage Plans have frequently engaged in unethical marketing practices. Medicare does work on putting a stop to this. I want to make very clear that no one should call you or come to your home uninvited to sell Medicare products. For more information about how to protect yourself from identity theft and fraud and what to do if you believe a Plan or Plan representative has misled you, call Medicare at call 1-800-633-4227.
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