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Part D Premiums up 24 - 31%
for 2009
Medicare Part D is
funded by Medicare and premiums, but is managed by private
insurers. Medicare Part D will be more expensive for seniors
next year. On average, premiums for the 10 most popular
drug-coverage plans will leap by 31 percent. And for all
standalone drug plans, the average price hike amounts to 24
percent, to $37 monthly. Meanwhile, Center for Medicare
Services chief Kerry Weems is warning that plans may have made
"significant" changes in coverage, and he urges seniors to
carefully scrutinize their drug plans.
One area that Weems pointed out was drug
coverage during the "gap"--the so-called donut hole where
benefits drop off once seniors have spent $2,510 on meds.
Beneficiaries can buy extra coverage to span the gap, but at
an additional cost, of course.
Be sure to investigate Medicare Advantage
Plans available in your area, as well as "stand-alone" plans.
"Stand-alone" Part D Plans cover only prescriptions. Medicare
Advantage Plans (also known as Medicare Part C) covers your
entire Medicare health program, as well as prescriptions.
Because Medicare heavily subsidizes Medicare Advantage
insurers, many of these plans are real bargains for Seniors.
Your SeniorArk editor uses one of these, although at the same
time we are sympathetic to many groups who feel that these
large subsidies are excessive, and take away from funds
available for other Medicare expenditures.
Working through the Part D "maze" can be a
considerable challenge. The 2003 Congress certainly
created a convoluted "twilight zone" for this program. Should
I select a "stand-alone" plan, or Medicare advantage? How do I
know which plans are available where I live? Are my
medications all covered? Do I still have the best plan
for next year? SeniorArk has just received a
powerful Part D tool that was constructed for us. This
tool will take you through easy steps to help answer these
questions. We will all be using it here at SeniorArk to make
sure we have the best plan for us, and we highly recommend it.
Additional SeniorArk Part D articles:
Part D Fiasco - Congress Can Do Better
Part
D In Chart Form
All about Part D and Medicare
Survive a Fall into the Doughnut Hole
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