Medicare Part D -- the basics

More than being our business to know, it’s about caring for those we serve. We’re here to help you understand your options so that you can select a plan that is right for you.

Understanding the basics

• There are no income or health restrictions to get the new drug coverage.
• Current Medicare beneficiaries have until May 15, 2006 to enroll – if you enroll later, you’ll pay a higher monthly premium.
• If you have already enrolled, you have until May 15, 2006 to change your plan without penalty.
• Enrollment is your choice – it makes sense to check if your current coverage benefits you more or less than one of the new plans.
• All Medicare-eligible persons must pick a plan, even those who don’t currently take prescription medications
• Many plans are available, and all are administered by private companies.
• The plans have big differences in premiums, deductibles, copays, drug coverage and pharmacy networks. Knowing which plan best matches your needs is important.
• Low-income beneficiaries may receive financial assistance to help with premiums, deductibles and co-pays.
• Prescriptions are filled at a pharmacy within your chosen plan’s network (except in unusual circumstances).

What will you pay?

This chart shows your costs (assuming no other drug coverage) under the Standard Medicare Benefit in calendar year 2006.