Here is a quick summary of the changes to Medicare effective January 1, 2012.
Help with Medicare Part D prescription drug coverage
- The Medicare Part D coverage gap is shrinking over time. You'll pay less out of pocket for prescription drugs each year during the gap than you paid the year before, until the gap closes in 2020.
- In 2012, you will pay 86% of the price for generic drugs and about 50% of price (plus the dispensing fee) for brand-name drugs during the coverage gap.
Medicare Part B coverage for preventive services
- When you first join Medicare, you receive a free “Welcome to Medicare” preventive visit. At this visit, you and your doctor create a personalized plan to help you improve your health and prevent disease.
- After you’ve been enrolled in Part B for at least 12 months, you receive one wellness visit each year at no cost to you.
- A wellness visit includes a review of your medical history, preventive screenings and more.
- Medicare Advantage plans, as well as Original Medicare, provide this benefit.
Medicare Annual Enrollment Period is October 15 through December 7
- The Annual Enrollment Period starts and ends earlier than it has in the past.
- The earlier time frame ensures that any changes you make in your Medicare coverage are fully implemented by January 1 of the following year.
Special Enrollment Period for Part D prescription drug plans
- If one is available in your area, you can switch to a 5-star Medicare prescription drug plan any time of the year.
- You can only use this Special Enrollment Period one time each year.
- You can read about Medicare’s Star Ratings at Medicare.gov.