In response to Kaye Dunagan's article on the Medicare prescription drug plan. I would like to clarify a few things that were generalized in the article.
We sell Medicare part D plans. We have a plan without a “dough nut hole” and we have sold this plan to several people.
We have a drug formulary (list) to go over with anyone who comes in to ask about our plan and give the drug formulary (list) to anyone who buys our plan or takes a packet home to study and compare.
Mrs. Dunagan states that the premium is roughly $450 a year; our plans start at $121 a year for the plan she is describing. For $695 a year you can buy a plan without a “ doughnut hole”. We sell three different levels of Medicare part D.
I cannot say that we cover all medicines; but I can tell you if your medications are included, and how many doses of that medication you are allowed to get at one time. If your medication is not on the formulary (list) you can ask the company to cover your medication and ask that the quantity limit be waived or raised.
If anyone would like an explanation on the part D Medicare plan I would be more than happy to explain it to you, I do not claim to be an expert but I have been through company schooling on Medicare part D.
I will tell you that Medicare part D will not help all senior citizens but it can be very beneficial to the ones that are taking a lot of meds. You can change plans once a year during an annual election period from November 15 to December 31.
It is important for the people who have not enrolled to know that you can enroll without a penalty until May 15 of this year and that not all pharmacies accept, all companies. Coverage does not go into effect until the 1st of the month following application. The deductibles are yearly Jan 1 to December 31 so it is not always cost effective to wait.
One should remember if you choose not to enroll at this time that there is a 1% per month penalty. For example the basic plan is now $10.07 per month if you wait five years it will cost $16.11 per month. It may be advantageous to buy the basic plan and upgrade at a later date without the penalty.
I would suggest that you talk to a licensed insurance professional and let them go over the plans and facts with you; everyone's situation i s different.
Compton Insurance Agency
Boise City News