KENTUCKY (WFIE) -
The 2012 Medicare Part D open enrollment period kicks off today, October 15, providing seniors and persons with disabilities the chance to take advantage of prescription drug benefits or, if they've been previously enrolled, to modify their existing plans. This is a critical time for Kentucky beneficiaries to closely evaluate their plans and make important changes that could save them money on their prescription drug coverage. The enrollment period closes December 7.
This is the sixth year for the Part D program, which was created in 2006 to provide a prescription drug benefit for individuals 65 or older and persons with disabilities. Since its inception, Part D has performed well while coming in under budget and lowering costs for the government and beneficiaries. The program encourages market-based competition while offering a wide range of plan options that help ensure access to medicines.
Nearly 11 million seniors gained comprehensive prescription drug coverage as a result of Medicare Part D including 63 percent of Kentucky's seniors. Currently, more than 40 million people with Medicare – 90 percent of all beneficiaries and 89 percent of Kentucky seniors – now have comprehensive prescription drug coverage.
Benefits of Medicare Part D include:
- Part D is improving the overall health of seniors by increasing access to medicines.
- Part D plans compete to deliver affordable coverage for beneficiaries.
- Centers for Medicare and Medicaid (CMS) estimates the average monthly Part D premium for 2013 will be $30, remaining virtually unchanged for the past three years and 50 percent lower than initial projections.
- The Extra Help program is available for enrollees of limited means to pay for costs – monthly premiums, annual deductibles, and prescription co-payments – related to a Medicare prescription drug plan. Extra Help is estimated to be worth about $4,000 per year.
The Medicare Part D program continues to receive high marks among beneficiaries. A 2012 survey by Medicare Today reported that 90 percent of seniors enrolled in Medicare Part D are satisfied with their coverage, and 96 percent say their coverage works well. Additionally, 61 percent of seniors report that they would be unable to fill all of their prescriptions without Part D.
Throughout the enrollment period, the Medicare Rx Access Network of Kentucky will help spread the word about the Part D program, enrollment assistance opportunities and events to maximize awareness among Kentucky's Medicare beneficiaries.
Members of the Medicare RX Access Network include:
Kentucky Voices for Health, American Cancer Society Kentucky Chapter, Cancer Action Network Kentucky Chapter, American Diabetes Association of Kentucky, American Heart Association of Kentucky, American Lung Association of Kentucky, Epilepsy Foundation of Kentuckiana, Kidney Health Alliance of Kentucky, Medical News for You, NAMI Kentucky, Kidney Foundation Kentucky, Kentucky and Southern Indiana Stroke Association and National Patient Advocate Foundation Kentucky Chapter
The Network will also be coordinating several special educational events throughout the state during the open enrollment period. For more on the Network, visit the website at www.MedicareRxAccessKY.org or follow us on Facebook atwww.facebook.com/MedicareAccessNetworkOfKentucky.
For additional information on the Medicare Part D program, or to view and compare Medicare plans online, visit www.cms.hhs.gov.
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