The Medicare Doughnut Hole - What is it?

It is currently estimated that 15% of seniors completely stop filling their prescriptions once they hit the "doughnut hole" gap. 

If you have a Medicare Part D prescription drug plan, the doughnut hole is when Medicare temporarily stops paying for your prescriptions. If you are in the doughnut hole, you have to pay the entire cost of your medications.

The new Health Care Reform bill includes a one time $250 rebate for seniors to use this year, 50% discount in 2011 for name brand drugs, 25% thereafter, however the gap in coverage is not estimated to go away for another 9 years. With medication costs rising each year, these benefits lose their value with seniors today. .

For free Medicare Supplement or Medi-Gap rates visit QuoteBroker

Important Medicare News and Update

Important Medicare News and Update:

QuoteBroker wants to remind seniors that Medicare Open Enrollment Begins Next Week. Open enrollment period is the best opportunity to choose Medicare drug and health plans for 2010.

November 15th marks the beginning of Medicare’s open enrollment period, QuoteBroker wants to remind seniors to compare their current Medicare drug and health plans with others that are available and choose the one that best fits their needs. People in Medicare have until December 31 to add, drop or change prescription drug and health care plans for 2010.

Medicare Presciption Drug Plan Enrollment Begins 11/15/09

What is Medicare prescription drug coverage? Medicare prescription drug coverage is insurance that covers both brand-name and generic prescription drugs at participating pharmacies in your area. Medicare prescription drug coverage provides protection for people who have very high drug costs or from unexpected prescription drug bills in the future.

Everyone with Medicare is eligible for this coverage, regardless of income and resources, health status, or current prescription expenses.

You may sign up when you first become eligible for Medicare (three months before the month you turn age 65 until three months after you turn age 65). If you get Medicare due to a disability, you can join from three months before to three months after your 25th month of cash disability payments. If you don't sign up when you are first eligible, you may pay a penalty. If you didn't join when you were first eligible, your next opportunity to join will be from November 15, 2009 to December 31, 2009. Medicare supplement plans, Medi-Gap Plans and Part D Medicare Prescription Drug plans can be purchased online at QuoteBroker.com

Your decision about Medicare prescription drug coverage depends on the kind of health care coverage you have now. There are two ways to get Medicare prescription drug coverage. You can join a Medicare prescription drug plan or you can join a Medicare Advantage Plan or other Medicare Health Plan that offers drug coverage.Whatever plan you choose, Medicare drug coverage will help you by covering brand-name and generic drugs at pharmacies that are convenient for you. Like other insurance, if you join, generally you will pay a monthly premium, which varies by plan, and a yearly deductible. You will also pay a part of the cost of your prescriptions, including a copayment or coinsurance. Costs will vary depending on which drug plan you choose. Some plans may offer more coverage and additional drugs for a higher monthly premium.

For more information write to info@qbcmail.com, or call (800) 783-0802