Medicare D: The Standard Plan

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What is the Standard Medicare D Plan?

Medicare D: The Standard Plan

Medicare Part D allows a number of private insurance carriers to provide prescription drug coverage for persons who qualify for Medicare. Part D is optional, however if your current prescription drug coverage does not meet the minimum standards set by the Government, you may want to consider selecting a Medicare Part D Prescription Drug Plan.

What is the Government's Standard Plan?

1. If your total annual drug cost is less

than $250, you must 100% of the cost.

2. If your total annual drug cost is

between $251 and $2250, the Plan will

pay 75% of the cost, while you pay the

remaining 25%.

3. If your annual drug cost is between

$2251 and $5100, you pay 100% of the

cost of your medications.

4. If your annual drug cost exceed $5100,

the Plan will pay 95% of the costs,

while you cover the last 5%.

Each insurance carrier offers a different plan. The above figures are the "minimum" required by the government, however most plans offer coverage that exceeds this standard.

Each carrier and Plan has different costs and deductibles. It is vital that you research the Plans based on the medications that you take, rather than simply on the recommendation of a friend, insurance representative or pharmacy. Compare the Part D Plans to see how well they meet your individual needs, and then make your decision.

To help you in this process, Medicare should have mailed you the 2006 "Medicare and You" booklet. If you did not receive the booklet or if you need further information, contact Medicare at: 1-800-MEDICARE, or access the Web site at MEDICARE.GOV.

   

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