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Medicare Open Enrollment – Let the Marketing Begin

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Humana and Walmart have announced a new Medicare Part D prescription drug plan. The plan offers a national monthly premium of $14.80, which the companies claim is, according to the government, the lowest national plan premium in 2011 for a standalone Medicare Part D plan premium.

äóìOne of the primary goals of health care reform is to make health coverage more affordable äóñ and thatäó»s what weäó»re doing with the introduction of this low-cost Medicare Part D plan,äó said William Fleming, PharmD, vice president of Humana Pharmacy Solutions.

In-store copayments (at preferred pharmacies) on generic prescriptions start as low as $2 when plan members use preferred pharmacies. Copayments as low as $0 for generic prescriptions filled via Humanaäó»s RightSource home-delivery prescription service.

The plan pays up to $2,830 in total drug costs, after which the patient pays 100% of drug costs up to a total of $4,550 out of pocket. The äóÖdonut holeäó» will close slowly through 2020, This year Medicare patients will get a $250 rebate if they top the $2,830 threshold, and in 2011 theyäó»ll receive a 50% discount on brand name drugs while in the äóÖdonut holeäó».

You can find out more about their plan here.

But I would recommend you use the CMS Medicare site to compare plans and find one that is right for you.

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