What is the Medicare Prescription Drug Plan?

Medicare's coverage for prescription medicines (Medicare Part D) allows people who have Medicare to get insurance to pay for part of their prescription drugs. Medicare works with insurance companies to offer this benefit. It is available no matter what your income, illnesses, or drug costs.

You can sign up between November 15 and December 31 each year. Enroll as soon as you are eligible, or you may have to pay more if you decide to join later.

How will the new health care law affect Medicare Part D?

The new law signed by President Barack Obama on March 23, 2010, will benefit Medicare patients who will hit the coverage gap (“donut hole”) under the prescription drug benefit. The coverage gap is a period of time in which you have to pay for all your prescription drug costs yourself. In 2010, the new law establishes that patients who have Medicare Part D will receive a $250 rebate from Medicare in 2010. These checks will begin mailing in June and will continue to be mailed throughout the year as Medicare patients enter the coverage gap.

In 2011, if you are a Medicare patient, you will receive a 50% discount when you buy brand-name prescription drugs covered by Medicare Part D. You will receive additional savings over the next 10 years. The coverage gap will be eliminated by 2020.

Where can I learn more about Medicare Part D?

There is a lot of information about Medicare Part D available on the Internet. FamilyDoctor.org has organized a list of Web sites that can help answer any questions you may have about Medicare Part D.

Information from familydoctor.org:

• Understanding the Medicare Prescription Drug Plan (Medicare Part D): Information to help you understand what is being offered with the new Medicare Prescription Drug Plan.
• Getting Ready for Medicare Part D: Answers to 5 of the most common questions about getting ready for the new Medicare Prescription Drug Plan.

Information from another organization:

• www.yourpharmacybenefit.org: YourPharmacyBenefit.org was created to help people make good use of pharmacy benefits as they become available.

Information from Medicare:

• www.medicare.gov: The official site for people with Medicare.
• http://www.medicare.gov/MPDPF/Home.asp: This tool was designed to help you compare the benefits of different plans.