FROM THE DESK OF SENATOR LONG
Medicare Part D
Hoosier Medicare recipients will soon have the opportunity to enroll in the new Medicare Part D prescription drug plan. The plan was created to provide American seniors, many who currently have no prescription drug plan, necessary medications. Nearly one million Indiana residents are currently enrolled in Medicare, a federally funded health insurance program for seniors aged 65 and older and individuals with disabilities.
Under the new, federally funded program, Medicare enrollees have several plans to choose from with varying monthly premiums, annual deductibles, and prescription co-payments. Individuals and families whose incomes fall below the national poverty line will be exempt from these monthly premiums but must provide a co-payment of $1 for each prescription for generic medications and $3 for brand name medications. Low-income individuals and families just above the poverty line also are exempt from monthly premiums and must co-pay $2 for generic medications and $5 for brand name medications.
Important facts to remember about Medicare Part D:
• Enrollment in Medicare Part D is voluntary for Medicare recipients.
• Low-income Medicare beneficiaries will receive (if they haven’t already) a letter from the Social Security Administration informing them of the Medicare Part D plan. All Medicare recipients will be informed of Medicare Part D, however, regardless of income.
• Enrollment begins November 15, 2005. Medicare recipients then have until May 15, 2006 to select a prescription plan. If recipients don’t enroll in a plan before May 15, they can still sign up; however, premiums will increase 1 percent each month until they enroll.
For example, let’s say the monthly premium starts at $36. A Medicare recipient chooses not to enroll in Medicare Part D until August 2006. The monthly premium would then be about $37.
Medicare recipients who chose not to enroll in Medicare Part D but have prescription drug insurance provided through an employer will not be penalized for not enrolling in the program. Instead, they have up to two months after the current plan is terminated to enroll in Medicare Part D without incurring penalty charges.
For more information regarding Medicare Part D, call toll-free, 1-800-MEDICARE (1-800-633-4227) or visit the program web site at www.medicare.gov.
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