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Overview of 2003 Medicare Changes
Medicare-approved Drug Discount Card
Effective June 2004-May 15, 2006 or until a beneficiary enrolls
Medicare Part D, whichever is first
Cost: Optional purchase ( price varies)
Description: Provides discounts on several prescriptions
Medications through a network of pharmacies.
Medicare Preventive Benefits
Effective Date: January 1, 2005
Cost: Co-payments apply for some services
Benefits include but are not limited to;
• Cardiovascular screening blood tests (ask your Dr. about eligibility)
• Diabetes screening (ask your Dr. about eligibility)
• “Welcome to Medicare” physical exam within the first six \
Months of having Part B
Medicare Part D Prescription Drug Benefit Plans
Effective Date: January 1, 2006
Enrollment Date: November 15, 2005-May 15, 2006 without penalty.
Cost: Voluntarily enrollment, monthly premium, co-payment or coinsurance for
each prescription filled.
Description: Medicare prescription drug plans provide insurance coverage for
prescription drugs. Medicare beneficiaries may purchase a plan available in
their area through private and insurance companies. If they buy a plan, they
will pay a monthly premium and a co-payment or coinsurance for each prescription
they fill. These costs will vary based on the Part D plan they choose.
No two Part D plans will look alike. Covered drugs, premium, deductible,
co-payments and coinsurance will vary from plan to plan.
Two New Medicare Supplement Plans
Effective Date: January 1, 2006
Cost: Optional purchase; premiums vary by insurance company
Descriptions: Medicare Supplement Plan K pays 50% of covered charges and the
policy holder pay 50%. Plan L pays 75% of covered charges and the policyholder
pays 25%. Neither plan covers the Part B deductible. Insurance companies decide
whether to offer these plans on a state-by-state basis.
Medicare Advantage Plans
Effective Date: January 1, 2006
Cost: Monthly premium, deductibles, co-payments and coinsurance vary by company
offering the plan. Some companies will actually have plans in certain areas that
will offer Medicare Advantage at NO additional cost to Medicare parts A and B
Description: Another option to help cover health care needs, Medicare Advantage
plans include HMO’s, PPO’s or Private Fee for Service plans. According to the
Reform Act, these plans will expand into additional geographic areas by 2006.
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Medicare Information
