(NAPSA)—Seniors 65 and older may choose whether to enroll in Medicare Part D, the out- patient prescription drug benefit. Though some seniors may already have a comparable or better private policy, many will find the Part D coverage exactly what the doctor ordered. Americans age 65 and older will have the option of enrolling in Part D during the initial open enrollment period from November 15, 2005 through May 15, 2006. Seniors who delay enrolling until after the open enrollment period may have to pay a premium penalty for each month their enrollment is delayed. Under Part D, private compa- nies will provide the outpatient prescription coverage. Enrollees will pay monthly premiums. Approximate costs have been esti- mated at about $35 a month but the amount may vary depending on the plan and carrier. The drug planswill also vary. A standard benefit has been described by Medicare but some plans will offer additional coverage. Amount and type of coverage will cause premiumsto vary. The Part D plans will include a list of approved drugs, though an appeals process will allow other drugs to be added in certain circumstances. Besides the monthly premium, Part D requires that enrollees pay: * The first $250 of drug costs (the deductible) Twenty-five percent of all a drug costs between $250 and $2,250 One hundred percent of all drug costs between $2,250 and $5,100 Five percent of all drug costs above $5,100 (or a copayment of $2 for covered generics and $5 for covered brand namedrugs, whichever is greater). “Every American senior needs to get informed about how this coverage can help him or her,” said Scott Perry, Executive Vice Presi- dent and COO of Bankers Life and Casualty Company, Chicago. “This is a voluntary program, just like Medicare Part B (doctor and medical expenses), so everyone will look at it differently.” His companyoffers free information to seniors who phone in their questions about the Part D coverage. To receive a free pamphlet on Part D, please call Bankers at 1-800-664-4488. The information is free and callers mayreceive a follow up phone call from a Bankers agent.
