The following information is intended to help you better understand the new Medicare D plans.
Resources
Medicare D
- Things to consider as you examine plans:
- Cost - premiums, deductibles, co-pays, extra coverage
- Coverage - which drugs are covered
- Convenience - pharmacy choices and mail order options
- Plans are different; they cover many drugs at different costs. Go to the Medicare website or call to compare. New York State offers more than 21 plans
How it works
- Pay a monthly premium - it varies based on plan you choose
- Pay a $250 yearly deductible (some plans waive)
- You pay 25% of your yearly drug costs, and your plan pays the other 75% until you reach $2,250
- You pay 100% of the costs after $2,250 until you reach $3,600 in out of pocket expenses. Some plans offer coverage for this gap
- After you spend $3,600 out of pocket you pay 5%, the plan pays the rest
- It helps to have EPIC or other coverage - they can complement each other