Medicare Plan D – What to do?

 

Questions & Answers:

 

How do I enroll?

 

n      This is a voluntary benefit. You must enroll in a plan to get the coverage.

n      Coverage must be selected from a company approved by the federal government.

n      Determine which plan best fits your needs.

n      Call our office to schedule an appointment 330.644.6300.

n      Meetings held at George Ayers Insurance office

n      Meeting will last 30 - 45 minutes

 

When should I enroll?

 

n      There are various dates - please call to discuss

n      Plan is effective the 1^st of the month following enrollment.

n      Enroll March 4^th – Effective April 1^st

 

What plan should I select?

 

n      That depends on the medications you are taking.

n      Each company has their own Formulary (the list of medications they will cover).

n      Most companies have more the one plan available.

 

What is the 1% penalty?

 

n      If you don’t join a Medicare PDP plan by May 15, 2006, your premium cost will go up at least 1% per month for every month that you wait to join. Remember the next open enrollment period is November 15, 2006 to December 31, 2006.

 

Do I have to enroll?

 

n      No – enrollment is voluntary.

 

Where do I get my medications?

 

n      Retail – Each company has a list of local pharmacies that will honor their plans.

n      Mail-Order – Most companies have a program for home delivery.

 

How do I pay for Plan D?

 

n      There are multiple ways to pay for the plan

n      Deduction from monthly Social Security check (most common)

n      Monthly billing to your home

n      Monthly deduction from your Bank Account

n      Monthly charge to a Credit Card

 

Do I qualify for financial assistance?

 

n      Qualifications for assistance

n      Limited Income

n      Single – Below $14,355

n      Married – Below $19,245

n      Limited Resources

n      Single – $11,500

n      Married – $23,000

n      Includes – Investments, IRA’s, 401(k), Savings

n      Does not include – Home, Car

 

What is Creditable Coverage?

 

n      If you have a prescription drug plan available to you through retirement or the Veterans Administration that is as good as or better than the standard plan D, you should have received a letter of creditable coverage from the insurance company, union or human resources department.

n      If you are not sure if you have creditable coverage – contact your insurance company, union or human resources department.

 

 

Our Representative will gladly work with you during the no cost, no obligation consultation to determine the plan that best fits YOUR needs.

 

Please contact our office for assistance
 in selecting the right plan for you.