Medicare Prescription Drug Open Enrollment is Approaching

Medicare beneficiaries across the state will have a total of 52 prescription drug plans to choose from for the upcoming year. This compares to 53 drug plans in 2007. Monthly premiums for the 2008 drug plans range from $13.90 to $99.00.

In 2008, once a beneficiary’s drug costs reach $2,510, the beneficiary will enter a coverage gap, sometimes referred to as a “doughnut hole.” This annual limit is based on the total cost of each medication, not just the amount the beneficiary pays.

Once affected beneficiaries enter the coverage gap, they are required to pay full price for their drugs until they have paid a total of $4,050 out-of-pocket for the year, at which point their plan will pay 95 percent of their covered drug costs for the rest of the calendar year. In addition to Nebraska’s 52 available stand-alone prescription drug plans, a total of 138 Medicare Advantage plans are being offered in 2008. This compares to 39 plans in 2007. Monthly premiums for next year’s Medicare Advantage plans range from $0 to $201.00. Prescription drug coverage is offered with 71 of these plans.

Medicare’s open enrollment period begins November 15 and runs through December 31. For more information, contact SHIIP at 1-800-234-7119. To view and compare the 2008 plan options, visit www.medicare.gov on the web.

Appointments will be taken at the UNL Extension Office in Dixon County (located at the Haskell Ag Lab near Concord) to do individual comparisons of the drug plans. Dates for scheduling appointments are: November 19 and 26, and December 3 and 10 from 1:00 PM until 5:00 PM.. Additional time will be made available if necessary. Call 402-584-2234 to make an appointment.