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The New
Medicare Program
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Starting
in 2004, Medicare-Approved Drug Discount Cards will
be available to help you save on prescription drugs.
 | Medicare
will contract with private companies to offer new
drug discount cards until a
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| Medicare
prescription drug benefit starts in 2006.
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| A
discount card with Medicare’s seal of approval
can help you save 10–25% on prescription drugs.
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| You
can enroll beginning as early as May 2004 and
continuing through December 31, 2005. Enrolling is
your choice.
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| Medicare
will send you information soon with details about
how to enroll.
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Starting
in 2005, New Preventive Benefits will
be covered, including:
| One-time
initial wellness physical exam within 6 months of
the day you first enroll in Medicare Part B.
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| Screening
blood tests for early detection of cardiovascular
(heart) diseases.
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| Diabetes
screening tests for people with Medicare at risk
of getting diabetes.
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| These
benefits add to the many preventive services that
Medicare already covers, such as cancer
screenings, bone mass measurements and
vaccinations.
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Prescription
Drug Benefits will
be added to Medicare in 2006.
All people with Medicare will be able to enroll in
plans that cover prescription drugs. Plans might
vary,but in general, this is how they will work:
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will choose a prescription drug plan and pay a
premium of about $35 a month.
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will pay the first $250 (called a
“deductible”).
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| Medicare
then will pay 75% of costs between $250 and $2,250
in drug spending. You will pay only 25% of these
costs.
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| You
will pay 100% of the drug costs above $2,250 until
you reach $3,600 in out-of-pocket spending.
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| Medicare
will pay about 95% of the costs after you have
spent $3,600.
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| Some
prescription drug plans may have additional
options to help you pay the
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costs.
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Extra
help will be available for
people with low incomes and limited assets. Most
significantly, people with Medicare in the greatest
need, who have incomes below a certain limit won't
have to pay the premiums or deductible for
prescription drugs.
The income limits will be set in 2005.
If you qualify, you will only pay a small
co-payment for each prescription you need.
Other
people with low incomes and limited assets will get
help paying the premiums and deductible.
The amount they pay for each prescription will
be limited.
Additional
information about the Medicare Prescription Drug
Improvement and Modernization Act of 2003 is available
in the Medicare publication titled
"Facts About Upcoming New Benefits in
Medicare".
Click
here to find out what Medicare Supplement plans will
cover
For
more info on Medicare or if you have other
questions, please call us at 631-393-5039 or email us at
info@ltcamerica.com.
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