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Last Chance to sign up for your Medicare Part D Plan

Michael Rea, PharmD — Sun, 04 Dec 2011 16:00:55 +0000

To all of our 65 and older readers (or for those of you that know someone who is), Wednesday of this week will be your final day to enroll in a Medicare Part-D Plan for 2012. You can do a plan comparison by getting a list of your medications and putting them into the online tool at medicare.gov. By using this tool, it will help you find the plan options that are best suited for you and your particular medication regimen. It will also help you save money by eliminating plans that don’t necessarily make sense for you to entertain. Its a great, unbiased resource that will allow you to choose whats best for you, not your insurance agent.

Medicare Part-D Open Enrollment

Michael Rea, PharmD — Sun, 14 Nov 2010 16:00:47 +0000

It’s that time of the year again, Medicare Part-D Open Enrollment! Starting tomorrow, November 15th, enrollment in a Medicare Part-D Plan for the 2011 year will be open and available until December 31st, 2010. Using the Medicare Part-D Plan finder is a great way to assess your current coverage, and make potentially less costly choices in your drug regimen (along with Rx Savings and your doctor), for next year.

Although the enrollment period is open for 6 weeks, we suggest doing your homework and registering before Thanksgiving. We suggest this for several reasons, one being the distractions of a busy time throughout the Holiday Season from the end of November until January 1st. The other, and maybe more applicable one, the government and corresponding insurance companies move rather slowly…..in some cases very slowly.

You can use the government plan finder found at: https://www.medicare.gov/find-a-plan/questions/home.aspx.

As always, if you need help or would like to be sure you save all of the money you possibly can next year, contact one of our professionals online at pharmacist@rxsavingsllc.com or call us toll free at 1-800-268-4476 for more information.

Healthcare Reform and Medicare Part-D Doughnut Hole Changes

Michael Rea, PharmD — Sun, 28 Mar 2010 14:58:00 +0000

It is no doubt that over the last week or two, you’ve read articles, watched t.v., or listened to the radio where Healthcare Reform was the main topic. No matter what side of the fence your on, the bill has passed, and so it is important to understand how it will affect you over the coming years. This week, we’ll take a look at how Medicare Part D or Medicare Prescription Drug Coverage will be affected. Here is the breakdown:

In 2010, Medicare Part D participants who reach the coverage gap (otherwise known as the doughnut hole) will receive a $250 rebate
In 2011, Medicare Part D individuals who reach the coverage gap will receive a 50% discount on brand name drugs, but not until they reach the coverage gap.
Brand name drugs will be subsidized slightly more each year between 2011 and 2020, eventually reaching a cost sharing structure of 25% paid by the individual and 75% paid by the plan sponsor (insurance company) in 2020.
Generic drugs will be subsidized for those in the coverage gap starting in 2011 at a rate of 7% per year, eventually reaching a cost sharing structure of 25% paid by the individual, 75% paid by the plan sponsor (insurance company) in 2020.

Each year, 14% of all Medicare Part D enrollees fall into the coverage gap or doughnut hole. Often times, this is an avoidable circumstance and one the professionals at Rx Savings Solutions are trained specifically to deal with. If you’re one of those people paying to much for your medications out of pocket each month, contact us at pharmacist@rxsavingsllc.com today!

Stats were gathered from the Kaiser Family Foundation. For more information, visit their website at http://www.kff.org/healthreform/upload/8059.pdf.

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