Q: When can Medicare beneficiaries enroll or change prescription drug providers?
A: From Nov. 15 through Dec. 31, Medicare patients may choose to change their current drug-coverage plans. Administrators are encouraging beneficiaries to enroll by Dec. 8 to ensure the smoothest transition when the new plans activate Jan. 1, 2007. Surveys indicate most beneficiaries are satisfied with their prescription drug plans. However, all beneficiaries ought to review their prescription needs and 2007 coverage options. If individual beneficiaries determine their current plan works best for them, they don’t need to take any action. Beneficiaries who determine a different plan better suits their needs may enroll in that plan during this open season enrollment period.
Q: What about the so-called doughnut hole, the coverage gap in Medicare Part D?
A: After years of debate, it took considerable negotiations and bipartisan compromise to reach a consensus in Congress that would create the first major new entitlement under Medicare since the program was created 40 years ago. As chairman of the Senate Finance Committee, which controls legislative authority over Medicare, I led the effort on Capitol Hill to bring Medicare in line with the 21st century and modern medicine by adding a prescription drug benefit. We worked hard to balance the interests of taxpayers and needs of America’s aging population. To make Medicare Part D a universal, voluntary and affordable benefit that tailored the greatest benefit to those most in need of assistance, a coverage gap exists. Filling that gap would cost taxpayers more than $400 billion over the next decade. So Medicare beneficiaries who choose the standard plan in 2007 will be responsible for prescription drug costs that fall between $2,400 and $5,450. However, beneficiaries who anticipate their prescription drug expenses may run north of $2,400 in 2007 may choose from affordable insurance plans in all 50 states that provide coverage for generic drug costs in the gap. Beneficiaries in 37 states, including Iowa, may choose a plan that covers both generic and brand drugs in the gap.
Q: Where can Iowans turn to for assistance?
A: Iowa seniors and disabled individuals may contact Medicare at 800/633-4227 for assistance or visit its website at http://wwww.mymedicare.gov. As chairman of the Senate Finance Committee, I helped shepherd the first-ever Medicare drug benefit into law. From my senior position in the U.S. Senate, I’ve kept close tabs on the new program in its first year to trouble-shoot administrative problems and educate Iowans about enrollment. As the drug benefit nears its first anniversary and prepares to serve the enormous baby boom generation and beyond, I’ll continue working to iron wrinkles out of the system to help make sure current and future Medicare beneficiaries receive affordable access to prescription medicines and taxpayers get the best value for their hard-earned money. Iowans needing one-on-one assistance to figure out what plan would work best for their individual circumstances also may contact Iowa’s Senior Health Insurance Information Program at 800/351-4664.
Q: How would you grade Medicare Part D after its first year in operation?
A: Here I defer to the millions of Medicare beneficiaries who already have chosen to participate in the program to get help paying for life-saving prescription medicines. More than 38 million beneficiaries now have prescription drug coverage. That’s 90 percent of the entire Medicare population. The facts will show Part D premiums average less than $24 per month. Beneficiaries on average are saving $1,100 in its first year of operation. That’s significant savings. Perhaps that’s why more than 80 percent of seniors surveyed expressed satisfaction with their Medicare prescription drug plan. The launch in January got off to a rocky start. I’ll continue to closely monitor administrative shortfalls and glitches that are bound to happen. I’m also working to make sure independent pharmacies in our local communities get a fair shake with the insurers operating the drug benefit plans. In the meantime, I encourage every Iowa Medicare beneficiary to check out Medicare Part D and find out what savings could be in store for you the next time you get a prescription filled.