Tips To Navigate the Medicare Prescription Drug Benefit

Beginning November 15th, 2005, seniors must choose from a complicated array of privately-run plans to sign up for the new Medicare prescription drug program. Most states will offer more than 40 plans. Each one has different monthly premiums and co-pays, different lists of covered drugs and different pharmacy networks.

Five Questions Every Senior Must Ask Before Choosing A Medicare Drug Plan

1. Are My Drugs Covered?
   
2. Does My Drugstore Participate?
   
3. Will My Drugs Stay Covered?
   
4. Should I Enroll Now?
   
5. What is the "Doughnut Hole" and How Will It Affect Me?

Choices For California Seniors

California seniors have 47 plans to choose from. Each offers different drugs, monthly premiums and charges different prices for prescription drugs. Many require a yearly deductible to be met before coverage kicks in and not all pharmacies are included in each plan.

Download a chart analyzing California's 47 plans, including details about deductibles, co-pays, drugs covered and contact numbers and websites for more information.

Key Components Of Every Medicare Drug Plan
According to Money magazine, more than a quarter of seniors would see their yearly drug spending rise considerably if they join one of the plans, meaning some seniors should not enroll at all. However, seniors who currently have very high out-of-pocket costs will benefit if they find a plan that covers most or all of their drugs with a low monthly premium. Enrollment depends on seniors' current and future drug needs. The poorest seniors can get financial assistance to help defray the costs associated with the program.

Read FTCR's press release for more tips on what to look for in Medicare drug plans and program pitfalls.

The High Cost of the Medicare Drug Benefit
Bulk purchasing of prescription drugs allows large groups of people to negotiate 50-70% discounts on prescription drugs. The Medicare prescription drug plan expressly prohibits the government from negotiating lower prices.

• Read FTCR's Press Release On Drug Company Lobbying To Win Lucrative Medicare Drug Contracts
  
• Learn How Drug Companies Drive Drug Prices Up
  
• Watch an animation and learn more about the LA RX plan, sponsored by FTCR, to bulk purchase drugs for residents of Los Angeles and California.

For more information, seniors in California can contact the Health Insurance Counseling and Advocacy Program (HICAP) at 1-800-434-0222. HICAP services all 58 counties.

For details about plans across the nation, seniors can phone 1-800-MEDICARE, or visit www.medicare.gov