How Will the New Medicare Part D Prescription Drug Plans Work?
Medicare prescription drug plans may differ across the country; but, in general, here is how they will work: You will pay a monthly premium of about $37 in addition to any premiums for Medicare Parts A and B; You will be responsible for an annual deductible of $250; After you meet the deductible, your plan will cover 75 percent of your prescription drug costs from $250 to $2,250. You will be responsible for the other 25 percent; From $2,251 until your out-of-pocket drug costs reach $3,600, you will pay 100 percent of your drug costs. However, because you are part of a plan that is negotiating on your and other plan members’ behalf for the best price, you will still be receiving a discount; Once your out-of pocket drug costs reach $3,600 (including the $250 deductible and co-pays, but not your monthly premium), you will pay 5 percent (or a very small co-payment) of your drug costs for the rest of the calendar year and your plan will pay the rest. What If I Don’t Think I Will Be Able to
