2012
Part
D
– MEDICARE PRESCRIPTION DRUG COVERAGE
COVERAGE
·
Available
for all people with Medicare
·
Provided
through
o
Medicare
Prescription Drug Plans
o
Medicare
Advantage Plans
o
Other
Medicare plans
·
When first eligible for Medicare (Initial Enrollment
Period or IEP)
·
During specific enrollment periods:
o Annual Open Enrollment Period: Oct 15 – Dec 7
o
Special Enrollment Periods
PRESCRIPTION DRUG COSTS
·
Costs
vary by plan
·
Most
people will pay
o
Monthly
premium
o
Deductible
o
Copayments
of coinsurance
o
Very
little after $6,657 out-of-pocket in 2011
·
Part
D Monthly Adjustment
o
Affordable
Care Act requires Part D enrollees whose incomes exceed the same thresholds that
apply to higher income Part B enrollees to pay a monthly
adjustment amount
o
Enrollees
will pay the regular plan premium to their Part D plan and will pay the
income-related adjustments to Medicare
o Monthly Adjustment:
|
If
Your Yearly Income is |
You Pay* |
|
|
File Individual Tax
Return |
File Joint Tax Return |
|
|
$85,000 or less |
$170,000 or less |
$0.00 |
|
$85,001 - $107,000 |
$170,001 - $214,000 |
$11.60 |
|
$107,001 - $160,000 |
$214,001 - $320,000 |
$29.90 |
|
$160,001 - $214,000 |
$320,001 - $428,000 |
$48.10 |
|
Above $214,000 |
Above $428,000 |
$66.40 |
· Extra Help if you have limited income/resources
EXTRA HELP WITH DRUG PLAN COSTS
·
Help
for people with limited income and resources
·
Social
Security are automatically eligible
o People with Medicare and Medicaid
o Supplemental Security Income (SSI) only
o Medicare Savings Programs
·
Everyone
else must apply
For
additional information or details, please contact SHIP
at 301-590-2819