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For the first time since Medicare was established, the program is offering comprehensive prescription drug coverage. The coverage is completely voluntary but you must sign up before May 15, 2006. The implementation problems that come with any new program are being solved. And now, over 27 million seniors across America have signed up for prescription medicine coverage, including 7.2 million who had no coverage before the benefit began.
Competition among plans is working and premiums are now expected to average $25 per month, down from prior estimates of $37 per month. Beneficiaries in Oklahoma have a wide range of choices. You can enroll in a stand alone private plan that provides prescription drug coverage in addition to original Medicare. Another option is a managed care plan that combines Medicare-covered health care and the drug benefit into a single plan. Both of these options come with a choice of providers with different coverage and different monthly premiums.
A recent survey conducted by Ayres, McHenry & Associates found that three-fifths of seniors are saving money with the new benefit. Nine out of ten self-enrolled seniors take a prescription drug on a regular basis and four out of five of these seniors say the medicines they need are covered. Two-thirds of self-enrolled seniors say the benefits are worth the time and effort they put into evaluating the different plans. Another finding in the survey showed that two-thirds of enrollees would recommend that other seniors sign up for the benefit.
The new prescription coverage is helping many seniors afford their daily medications. A recent NY Times reporter described how the Medicare Prescription Drug plan is helping Oklahomans. The article, "For Some Who Solve Puzzle, Medicare Drug Plan Pays Off," printed on March 26, described several cases where the Medicare Drug Plan helped seniors tremendously with their monthly pharmacy bills. One of the stories mentioned in the article was the story of a lady named Mary N. Hooser from Sapulpa Oklahoma. Under the Medicare Prescription Drug plan her medicine bill dropped from $476 per month to less than $100 per month.
While choice is good, I know that finding the plan that is right for you can be a daunting and sometimes scary process. The good news is that there are plenty of people that you can go to for help. You can call 1-800-MEDICARE and talk to a Medicare representative, 24 hours a day, 7 days a week. If you have internet access you can log onto www.medicare.gov and click on the link "Compare Medicare Prescription Drug Plans." Also, keep a look out for information meetings at pharmacies or senior centers near you. If you have any other questions or need additional information, please contact my office in Lawton at 580-357-2131.
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