How are the new Medicare drug plans that are starting in 2006 different from the Medicare-approved drug discount cards that are already available?
Medicare prescription drug plans are a new type of insurance that can give you prescription drug coverage from Medicare. These plans work like other insurance you may already have. If you join one of these plans, you will pay a monthly premium, and you will have to pay a copayment or coinsurance for each prescription you fill. You will first be able to sign up for one of these new plans beginning November 15, 2005.
Medicare prescription drug plans are a new type of insurance that can give you prescription drug coverage from Medicare. These plans work like other insurance you may already have. If you join one of these plans, you will pay a monthly premium, and you will have to pay a copayment or coinsurance for each prescription you fill. You will first be able to sign up for one of these new plans beginning November 15, 2005. The Medicare-approved drug discount cards that became available in May 2004 are a way for you to get a discount on your prescriptions at the pharmacy. They work like other grocery store or pharmacy discount cards you may have. You can sign up for one of these cards only until December 31, 2005. They were offered as a transition step to help people with Medicare save money on prescription drug costs until Medicare prescription drug plans became available.
Related Questions
- How are the new Medicare drug plans that are starting in 2006 different from the Medicare-approved drug discount cards that are already available?
- Can beneficiaries keep their Medicare-approved drug discount cards after the new Medicare prescription drug benefit begins?
- What will happen to the Medicare drug discount cards?
