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A Manual Approach to Medicare Part D Program

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Medicare part D programs are the part of Medicare prescription drug benefits program of the United States of America. This program is the part of the Medicare modernization act and was made into act on January of 2006. The main motive of this program is to reduce the cost of the prescription drugs and is to give insurance premiums to the citizens of the USA as their Medicare benefits.

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What does this plan cover?

This Medicare part d plan covers different types of drugs with their costs. Before bumping into any plan, please choose the plan, which covers your prescribed drugs. The drug listed in the lower tier costs less as compared to the drugs that are listed in the higher tiers. In some cases, if your needed drug is in the higher tier and similar composition medicine is mounted in the lower tier, then you can ask for the exceptions to get that drug. This project, part d covers the cost of the all the catastrophic drugs like benzodiazepines and barbiturates for the critical diseases like leprosy, cancer and other chronic health issues. This plan does not cover for the medication for the issues like weight, fertility, and cosmetic and erectile dysfunction. This Medicare sometimes covers plans like private fee- for service (PFFS) and medical saving account (MSA) plans.

How costly is the program?

This program, part d pays 95% of the costs over the price of $6000 of its fund through a year as retail. The rest part of the budget helps the 1% of the population whose health are highly ill. Apart from this the cost of the plan depends upon the specification of the medicine you use and the network plan pharmacy you are using. It also depends upon whether the extra help is paying your Medicare cost or not.

How part D works with other insurances?

The part d also can synchronize with other insurances like employer, union coverage, COBRA, Medicaid, supplemental security benefits, state pharmaceutical assistance program, long term care facility, HUD housing assistance, food stamps and health insurance market place to give simultaneous benefits to the citizens. Apart from all the above insurances the Medicare along with FEHB program and military health benefits covers the most advantages.

Beneficiary premiums?

The monthly beneficiary premium was $28 in the year of 2008 and gradually it is increasing. Now in 2010 the average is around $30. The most misleading fact of this Medicare premium is that it is always offered, not as paid. In the year of 2007 some of the beneficiaries try their hands with PDP, among which MA-PD plan was one of them. This plan successfully executed as it offers a maximum gap coverage rate of 33% as compared to other plans. In the growth the gap coverage rate always significantly points the rates of the premiums.

Criticism

There are lots of benefits happening due to the introduction of this Medicare d program, but lots of economist considers it as a backlog for the economical growth. As per the report it has been estimated that the Medicare program added a debt of $312 million dollars to the American economy and the report estimates that within the next 10 year it will show its rise, up to $850 billion dollars.

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