Medicare Rx Coverage
Medicare Prescription Drug Program
What is the Medicare Prescription Drug Program?
- The new part of Medicare – known as Part D, that includes prescription drug coverage.
Will I automatically be enrolled in Medicare Prescription Drug Coverage?
- No. Enrollment in Medicare Prescription Drug Coverage is voluntary, and in most cases you will need to apply for the coverage.
How will I receive my Prescription Drug Coverage?
- People with Medicare receive their Medicare Prescription Drug Coverage by enrolling in a Medicare Advantage Plan OR enrolling in a private Prescription Drug Plan.
What will be my cost for Medicare Prescription Drug Coverage?
Costs may vary depending on the type of plan chosen as well as your income, but generally you will pay the following:
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Monthly premiums vary
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$265 annual deductible
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25% of your prescription drug costs between $265.01 and $2,400 (annual amount)
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100% of your prescription drug costs between $2,400.01 and $5,451.25 (annual amount)
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For prescription drug costs over $5,451.25, pay either a $2.15 or $5.35 copayment or 5% coinsurance (annual amount)
Where can I go for assistance with understanding the Medicare Prescription Drug Program?
Call
at 1-800-333-2433 or email the [email protected] for more information. This is the State Health Insurance Assistance Program (SHIP) for all Minnesotans with Medicare as designated by the Centers for Medicare & Medicaid Services. Free help is available by phone or in person. RxConnect™ is a service of the Minnesota Board on Aging and its designated Area Agencies on Aging who operate the Senior LinkAge Line™.
Other resources include www.medicare.gov and 1-800-Medicare.