[Nfbmo] Medicare Part d

[Gary Wunder]

Thanks Gene. This will definitely be helpful.


 

-----Original Message-----
From: nfbmo-bounces at nfbnet.org [mailto:nfbmo-bounces at nfbnet.org] On Behalf
Of Gene Coulter
Sent: Thursday, March 01, 2012 8:17 PM
To: NFB MO List
Subject: [Nfbmo] Medicare Part d

What happens if Blind persons medical coverage is eliminatede from the state

budget? Here is some information on Medicare Part D which would be the 
alternative for us.
This information is not easy  to find. But here are some facts about 
Medicare Part D. Feel free to share at will.
Minimum Premium monthly $31.08
Elective premiums can range  to around $150.00 or more a month to give more 
complete coverage including  filling the "Doughnut Hole".
What drugs are covered: each plan has a set formulary that vary widely 
depending on the plan you select.  Vaccines are covered.
Deductible for 2012: $320.00 before medicare part D pays a dime.
What are the coverage levels: there three coverage levels: Inital , Coverage

Gap, and Catistrophic
What  are the benefits under Initial coverage: First you must meet the 
$320.00 deductible then you pay 25% of your drug costs and Part D pays 75% 
until costs reach $2930.00
Coverage Gap: This is the so-called "doughnut hole" and medicare pays 
nothing until your cost have reached $6930.00
The one benefit during the doughnut hole is that you only  pay 86% of the 
cost of generic drugs and 50% of name brand drugs provided the drugs are 
covered by Medicare.
Catistrophic coverage: Once you  have bills over $6,930.00  you pay 2.60 for

generic and  $6.50 for name brand or 5% of the cost whichever is higher.
Out of pocket costs: $4,700.00 under initial and doughnut hole before 
reaching the Catistrophic level
Total costs excluding catistrophic  using miminum premium: $5,072.96

Example For a person getting $1,000.00 SSDi and $707.00 in BP who has 
hretail drug cost of over $6,750.00 a year here is a comparison
Medicaid:
Income monthly $1,707.00
5 prescriptions at $2.00 a piece $10.00
Net $1,697.00
Medicare Part D:
Income $1,707.00
*Average drug cost $391.67
Miminum premium $31.08
Net income $1,284.25
*This is the average  only during the months of the "doughnut hole" the 
coverage could double or triple depending on the persons actual retail drug 
costs.
Here is a link  to calculate  these cost for specific intenses . You can 
also look at various Medicare Part D plans  if you wish.
http://www.medicare.gov/default.aspx
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