Medicare Drug Benefits (2006) - New Medicare drug benefits that will be offered as of 2006.
The law allows all Medicare beneficiaries to voluntarily enroll in a Medicare-approved drug plan or a Medicare health plan.
The plans will pay an average of 75% of the cost for drugs after $250 deductable is met, up to an initial coverage limit of $2,250. The actual percentage will vary based on beneficiary income.
The plans will not cover drug cost between $2,250 and $3,600.
The plan will pay about 95% of prescription cost after the beneficiary has paid $3,600 per year out of pocket.
