Medicareful

Medicare Supplement and Part D

Original Medicare with a Medicare Supplement and Part D plan means that a Medicare Beneficiary is receiving Part A and Part B of Medicare, purchases a Medicare Supplement (Medigap Plan) to Supplement the Original Medicare Benefits and purchases a Medicare Part D plan for Prescription Drug coverage.

Is this option right for me?

If you do not have other supplementary coverage for Prescription Drug coverage, this could be a good choice.
If you prefer a fixed premium to reduce financial exposure, this could be a good choice.
If you are not willing to accept a network less than all Medicare approved providers, this could be a good choice.

Advantages

Financial Exposure to Part A and Part B cost sharing can be virtually eliminated (depending on the Medicare Supplement plan selected) in exchange for a premium with a fixed cost for the year.
Medicare Supplement plans are "Guaranteed Renewable" which protects insurability.
Has the same broad network of Providers and Hospitals that Original Medicare offers.
Ability to select a Stand alone Medicare Part D plan which is suited to your specific prescription drug needs.
A stand along Medicare Part D plan provides coverage for prescription drugs.
Avoids Late Enrollment Penalty (LEP) for Medicare Part D Prescription Drug Benefits.

Disadvantages

There is a premium which must be paid for the Medicare Supplement plan.
For those who do not qualify for "Extra Help" paying for their Prescription Drugs, there would be a premium for Part D.

Costs

Cost Sharing would depend on the Medicare Supplement plan you choose. There are 11 plans to choose from: A, B, C, D, F, G, K, L, M, N and High Deductible F. Premiums for each plan will vary based on the insurance company you choose.

Part D — Prescription Drug Coverage
For Medicare Beneficiaries who do not qualify for "Extra Help" paying for their prescription drugs would have the option of selecting any Stand Alone Medicare Prescription Drug program which is available in their state of residence.
Premium	Varies based on the plan selected.
Deductible	Varies from $0 to $310 (in 2011) based on the plan selected.
Copays	Varies based on the plan selected. Standard benefit is 25% co-insurance up to $2,840 (in 2011) in total drug cost. Some plans may have co-payments for Generics, Preferred Brands, Non-Preferred Brands and Specialty drugs in lieu of 25% co-insurance.
Coverage Gap or "Doughnut Hole"	Varies based on plan selected. Some plans may cover Generics in the Coverage Gap. Very Few plans cover some Brand name drugs in the coverage gap. Medicare Beneficiaries pays 100% of discounted Prescription Drug costs until their "True Out of Pocket Cost" is equal to $4,550 (in 2011).
Catastrophic Coverage	Once the "True Out of Pocket Cost" is reached, Medicare Beneficiary pays the greater of 5% or $2.50 for Generics and $6.30 for Brand Name Prescription drugs (in 2011).

Part D — Prescription Drug Coverage
Those who qualify for "Extra Help" from the Federal government in paying their prescriptions will have lower cost sharing and low or no premium. To see the 2011 guidelines for cost sharing at the various levels of qualification, click here. To find out if you qualify for Extra Help, visit www.socialsecurity.gov, visit your local Social Security Office or contact your local Medicaid office.