D-Day, as in Medicare Part D

Well folks, the new medicare plans are out and you can prepare for a marketing avalanche from good plans and not so good plans. The big news is AARP is now co-branding a health plan, how good it is remains to be seen, but if you liked Secure Horizons, you will like the new branded AARP Medicare Choice.

Citrus County has an amazing amount of choices, and while this is a good thing for younger seniors used to making most of their own choices, it will be somewhat bewildering for older seniors. There are a whopping 58 Part D plans, 25 Health plans, and 10 Special Needs Plans. As predicted HMO's have made a comeback to Citrus County, and in a very big way. Whether you love 'em or hate 'em there are quite a few to choose from, including one that let's you use out of network doctors, and acts as a POS (Point of Service) plan.

Help for People with Limited Income and Resources
There is financial help to pay for some health care and prescription drug cost if you have limited income and resources.

Low Income Subsidy (LIS)

Medicare will help pay prescription drug costs if you have a yearly income (in 2007) below $15,315 ($20,535 for a married person living with a spouse and no other dependents) and resources (in 2007) less than $11,710 ($23,410 for a married person living with a spouse and no other dependents), for more information call 1-800-MEDICARE. People receiving a low income subsidy may qualify for reduced drug copayments, waived premiums for certain plans and waived deductibles.

The plans that would require $0 premium and deductible for a full low income subsidy are as follows: Healthnet Orange Option 1, Advantage Star Plan by RxAmerica, MedicareRx Rewards Standard, Prescription Pathway Bronze Plan Reg 11,Community CCRx Basic,WellCare Classic,First Health Part D-Premier, and Quality Rx. Remember if you receive a low income subsidy and are enrolled in a Medicare Part D plan, (not a Health Plan or Medicare Advantage), these would be your choices so you would have no monthly premium. If you have any questions please feel free to email me or call toll free 866-795-8436.

If you don't happen to qualify for a low income subsidy there are still a myriad of plans, with and without deductibles, but across the board premiums and copayments have both gone up. There has never been a better time to be using generic drugs, as many copays in plans are $0-$5, so be a smart consumer, if your doctor hasn't already put you on generic drugs, do it now. There are also a few more plans available with some type of "doughnut hole coverage". If you've been reading this blog you know that gap has changed. The hole in a standard plan begins when the enrollee's total cost of drugs reaches $2,510. You then have to pay the next $3,147 before cata- strophic coverage begins. At that point the plan will pay about 95 percent of your drug costs for the remainder of the year.

Here is a link for a donut hole calculator just input your figures. click here

I can't emphasize enough how important it is to have all the information available before you make your choices. Seek out a qualified advisor to help you make your choices based on whats good for you, not what kind of commission the advisor may make. Don't enroll in a plan because it is a good fit for a neighbor, they may have different needs than you. Don't ever be bullied into a plan that you feel isn't in your best interests.