Medicare Modernization Act

by Michelle Wade, Editor

Starting in January 2006, a new Medicare prescription drug plan will be available to people with Medicare Part A and/or Medicare Part B. These plans will be different from and will replace the Medicare-approved drug discount cards you might have now.  Medicare Part D will provide insurance coverage for prescription drugs.  If you join, you'll pay a monthly premium and some of the cost of your prescriptions.  Costs will vary with the plan you choose, as will the covered drugs and the pharmacy you can use.  Enrollment begins November 15, 2005; if you join by December 31, 2005, coverage begins January 1, 2006. 

Should I Join a Plan?

Even if you don't use a lot of prescriptions drugs, you should consider joining a plan. You will pay more each month to join later (after May 15, 2006).  Some people with income at or below a set amount will qualify for help paying the monthly premium, and/or the cost of drugs.  The Medicare Prescription Drug Plans can be added to the Original Medicare Plans and Medicare Advantage Plans. Look for details in the mail from Medicare and the Social Security Administration (SSA) later this year. The "Medicare & You 2006" handbook will be available in the fall, as will personalized information from the Medicare website or by calling 1-800-MEDICARE to help you make your best choice.  Your local SHIP (State Health Insurance Assistance Program) volunteer and the KIPDA Area Agency on Aging staff will also provide you with free health insurance counseling.  Our phone number is 502-266-6084 or toll-free (888)737-3363.