From Consumer Reports: Question When I filled out the Medicare prescription compare plan, I miscalculated my husband’s insulin prescription. Consequently, we reached the doughnut hole within five weeks. In 2011, we are told that we will be paying 50 percent less on name-brand drugs while in the doughnut hole. Will the full price of the drugs be deducted from $4,550 that the feds require us to pay? Or, will it just be our 50 percent share, meaning we’ll still end up paying $4,550 in the long run? Answer Good news for you—it’s the former. Here’s an explanation from our go-to experts at the Medicare Rights Center. The 50 percent discount for brand-name drugs that will be applied beginning in 2011 will effectively shrink the $4,550 doughnut hole for you. Both what you pay out of pocket AND the 50 percent discount … Continue reading
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We felt this was a great article worth sharing. Q&A from Consumer Reports by Nancy Metcalf Question: My husband and I are 57 years old and live in Arizona. We are early retirees, too young for Medicare, but with pre-existing conditions that make it impossible to be covered by any plan except a guaranteed issue plan with extremely high premiums and poor coverage. Last year, about half of our modest income went to cover health care! Will we be able to drop our current private insurance and sign up for coverage under the new high-risk pool for people with pre-existing conditions? The last thing we want to do is go without insurance for six months and risk everything we’ve tried so hard to avoid. But from everything I’ve read, it seems that is what we’ll have to do. We are the people … Continue reading →
