Wednesday, January 6, 2010

Options of Medicare-approved private plans

Beneficiaries will have a choice of Medicare-approved private plans from which accept their benefit. Plans will be given subsidies from Medicare that will help them keep premiums and cost-sharing low, guard next to higher than expected drug costs, and encourage them to participate across the country. There are also extra subsidies that will be paid to employers to preserve retiree health benefits for millions of seniors.

The legislation provides added coverage for millions of Medicare beneficiaries of limited means and with incomes below 150 percent of poverty. Those beneficiaries with incomes below 135 percent of poverty will pay no monthly quality, no deductible and only $1 to $5 per prescription in cost-sharing. Beneficiaries with incomes between 135 and 150 percent of poverty would pay reduced premiums, a considerably reduced deductible of $50, and cost-sharing of just 15 percent.
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