Medicare Open Enrollment 2013
Medicare gov's open enrollment 2013 season starts Oct. 15, and beneficiaries have a variety of choices of subsidized prescription plans. Seniors and their family members can use the online Medicare Plan Finder to input individual prescription lists, and find Medicare prescription plans in their region.
Almost 90% of Medicare's nearly 50 million beneficiaries have some form of prescription drug coverage, with more than 17 million enrolled in private drug plans through the prescription drug program. Of those, 14 million are in the top 10 plans.
From October 15 through December 7, 2012, Medicare beneficiaries and those who are eligible for Medicare all have the opportunity to enroll in the Medicare Part D prescription drug program.
Medicare Part D is one of the fed’s most successful programs and a program that affects the lives of millions of Americans. Part D provides Medicare beneficiaries in every state a choice of competing, affordable prescription drug plans to meet their medication needs.
The average monthly premiums for Medicare Part D prescription drug plans will remain the same in 2013 at approximately $30, the third consecutive year at that level.
Other changes to Medicare's Part D in 2013 include increases in price discounts for beneficiaries who find themselves in the donut hole.
The discount on brand name drugs in the coverage gap will increase from 50 percent to 52.5 percent, and generic drugs from 14% to 21%.
Source for the below: uticaod.com
Medicare Part A: Covers inpatient care in hospital, hospice and nursing home and home health care (but not long term care). Free for most.
Part B: Covers doctor’s visits, tests and other outpatient care. Charges a premium.
Part C: Medicare Advantage plans let private companies offer both Part A and Part B benefits with fewer out-of-pocket costs than original Medicare. Many charge a premium on top of the Part B premium.
Part D: Prescription drug coverage purchased from a private company.
Medigap: Supplemental insurance from private companies that covers the deductibles and co-insurance not paid by original Medicare. Plans run from A to N.
Open enrollment: The only period during which beneficiaries may change Advantage plans or opt in or out of original Medicare. Medigap coverage may be purchased any time.
Doughnut hole: A gap in prescription drug benefits. In 2013, Part D enrollees will pay a monthly premium and may, depending on the plan, pay a deductible on prescriptions. Once any deductible is met, they pay copayments or co-insurance for their drugs until total drug spending – what the plan pays and what the enrollee pays combined – reaches $2,970 for the year. Then the enrollee pays 47.5 percent of the cost of brand-name drugs and 79 percent of the cost of generics until total out-of-pocket expenses for the year reach $4,750. After that, the enrollee reaches catastrophic coverage and pays only a small portion of drug costs, either 5 percent or copayments of $2.65 for generics and $6.60 for brands, whichever is more.
EPIC: A New York program that helps low-income seniors pay for Part D premiums and supplements their out-of-pockets drug costs. To be eligible, seniors must make less than $35,000 or $50,000 for a couple. For more information or an application, call 1-800-332-3742 (TTY: 1-800-290-9138).
Medicare Open Enrollment 2013 | Medicare.gov 2013