What Are The Details Of The 2010 Medicare Part D Program?
The 2010 Medicare Part D program has new proposed changes which are designed to help recipients pay for prescription drug costs. In addition to these changes, the CMS will adjust the Standard Benefit Plan to increase initial deductibles, initial coverage limits and the out-of-pocket threshold. 2010 Medicare Part D recipients should take the time to look at these changes and understand how the changes could affect them.
Major Changes To The 2010 Medicare Part D Benefit Schedule
Benefit schedules are adjusted for the 2010 Medicare Part D program every year. The CMS adjusts the amount of coverage for seniors and defines it yearly in their Standard Benefit Plan. This year has been host to a number of changes to the Medicare Part D program. The details are as follows: The initial deductible has increased from $295 in 2009 to $310 in 2010. The initial coverage limit has increased from $2,700 in 2009 to $2,830 in 2010. The out-of-pocket threshold has increased from $4,350 in 2009 to $4,550 in 2010. It is also worth noting that a $250 rebate will be given to Medicare Part D recipients who are in the coverage gap.
What Are The Implications of 2010 Medicare Part D Changes On Recipients?
The higher costs of premiums and the standard drug benefit will cause the 2010 Medicare Part D to be a greater financial burden on recipients compared to previous years. Medicare Part D plans will attempt to mitigate the costs by encouraging generic drug dispensing, and implementing price controls such as step therapy and prior authorization. Seniors will have to respond to the 2010 Medicare Part D program by belt-tightening and implementing cost-saving measures. The health of some seniors might be compromised as Medicare costs increase in the future.