The biggest change to the Medicare program since it’s inception in 1965, just occurred on January 1, 2006; Medicare Part D insurance became available. This Medicare Prescription Drug coverage is insurance provided by private insurance companies that have been approved by Medicare. Medicare is not offering this coverage directly. This all began in 2003 with the Medicare Modernization Act, which Congress passed to provide affordable prescription drug insurance coverage to our seniors. Since then, companies have been diligently working on gathering the information needed for compliance, regulation, and costs. It has evolved into insurance companies offering a whole new portfolio of Medicare plans, and many companies for Medicare recipients to choose from. To say it can be overwhelming is an understatement, so please feel free to call me if you or a loved one is eligible for Medicare benefits and needs some direction. I am the Medicare “expert” in our office, and will try to assist you (952-942-8355).
A few tips I will share are, stick with insurance companies that have been in Minnesota for awhile as some have popped up just for this marketing opportunity. Do seriously consider changing to or adding at least the basic drug plan as it will never be this inexpensive again! One does have to have Medicare Parts A & B, to be eligible for Part D. (Trivia: Medicare Part A is Inpatient Hospital, Part B is Physician services, Part C is Medicare Advantage Plans, Part D is Prescription Drug Benefit). Re-evaluate your current Medicare plan as there are many new options to choose from and some are much less expensive.
The fuss is real but also worthwhile, and we’re here to help you.
