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A Few Words About Part D Medicare Supplements
Since Part D's inception over 25 million Medicare recipients have saved money while the taxpayers are footing a staggering bill of over 38 billion dollars per anum.
Mr. and Mrs. John Q. Public on Medicare are saving a bit more than 50% on their prescription drug bills. 50% is alot of money for a senior citizen who is living on a fixed income and has to chose between food and prescription drugs.
Regardless of this tremendous saving, it is possible to save even more money by doing absolutely nothing. International drug stores and Canadian drug stores in particular give American clients ussual and customary saving of between 50 and 80% on every transaction.
As one can imagine, Uncle Sam is not very happy having millions of Medicare supplemental recipients making a drugstore in Canada their neighborhood drugstore. Therefore, the Part D Medicare plans were concieved. These Part D Medicare supplements give the Medicare recipient enough of a savings to convince the regular Joe Medicare to forego the drug store in Canada option.
In 2004, there were Congressional hearings on this matter and the unanimous bipartisan conclusion that it was prefferable to subsidize the Medicare recipient through Part D an average of 51% in an optimum situation.
Savings through the Canadian drug store option averaged 63% (less today because of the strength of the Canadian dollar) and it is conventional wisdom that the consumer would prefer to shop at the local drug store versus mail-order if the price is "only" 20% higher.
A projected federal outlay of 38 billion dollars per anum for Part D Medicare supplements enjoyed nearly unanimous support when the Part D law passed in 2005.
Why Different Part D Supplements Have Different Prices
Part D companies set their prices bases on what they project expenditures to be while taking into account the federal government subsidy.
When Medicare Part D started there were insurers that projected low expenses while having very aggressive marketing campaigns to entice new members to join their Part D Medicare program.
These low initial rates for the part D caused a few insurers to acquire high market share when Medicare part d started but as part d enters the third and fourth there is near uniformity in part d rates between the various insurers.
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Medicare Part D Calculator |
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Medicare
Supplement Options
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We work with a number
of insurance providers and will recommend a quality Medicare Part D plan that
will meet your specific requirements. |
Part D is the Medicare
supplement insurance plan for prescriptions as of May 2006. If
you know your prescription expenses are higher than est. $2,000 before insurance
is calculated, you must pay close attention to which Medicare supplemental
Part D insurance plan you choose.
With the wide variety of plans to choose from, it's easy to make a mistake.
Once you order a Medicare supplemental Part D policy, you cannot change it for
a year, so we suggest consulting with one of the Medicare insurance specialists.
Squeeze every dime from Medicare Part D by getting the most suitable Medicare Supplements for your personal needs.
If your annual prescription costs go beyond the max - the Medicare Supplements that you choose has great import.
Our Medicare supplement specialists will be happy to help you find the best plan.
show real estimated savings with
the most basic of Medicare Supplementss, once all deductions have
been calculated.
Medicare Supplemental
Scenario One (A):
In this scenario, you have one medication un-insured
| Total Annual Costs |
$1,500.00 |
| Un-insured drugs |
$360.00 |
| Insured Portion |
$1,140.00 |
| Deductible |
$250.00 |
| 75% Savings On |
$890.00 |
| Total Savings |
$667.50 |
Subtract $667.5 from $890.00 = $222.50
| You Pay |
$222.50 |
| Deductible |
+ 250.00 |
Monthly (@ $35) |
+ 420.00 |
| Un-insured drugs |
+ 360.00 |
| Total Annual Costs |
$1,252.50 |
Subtract $1252.50 from $1500... Your real savings
= $247.50 or 16.5%
_______________________________________________________________________
Medicare Supplemental
Scenario One (B):
In this scenario, you are fully covered
| Total Annual Costs |
$1,500.00 |
| Un-insured drugs |
$0.00 |
| Insured Portion |
$1,500.00 |
| Deductible |
$250.00 |
| 75% Savings On |
$1,250.00 |
| Total Savings |
$937.50 |
Subtract $937.5 from $1250.00 = $312.50
| You Pay |
$312.50 |
| Deductible |
+ 250.00 |
Monthly (@ $35) |
+ 420.00 |
| Un-insured Meds |
+ 0 |
| Total Annual Costs |
$982.50 |
Subtract $982.50 from $1,500... Your real savings =
$517.50 or 35.5%
_______________________________________________________________________
Medicare Supplemental Scenario Two (A):
In this scenario, you have two medications un-insured
| Total Annual Costs |
$3,000.00 |
| Un-insured Meds |
$1,200.00 |
| Insured Portion |
$1,860.00 |
| Deductible |
$250.00 |
| 75% Savings On |
$1,550.00 |
| Total Savings |
$1,62.50 |
Subtract $1,162.5 from $1,550.00 = $387.50
| You Pay |
$387.50 |
| Deductible |
+ 250.00 |
| Monthly (@ $35) |
+ 420.00 |
| Un-insured Meds |
+ 1,200.00 |
| Total Annual Costs |
$2,257.50 |
Subtract $2257.50 from $3,000... Your real savings =
$742.50 or 24.7%
_______________________________________________________________________
Medicare Supplemental
Scenario Two (B):
In this scenario, you are fully covered
| Total Annual Costs |
$3,000.00 |
| Un-insured Meds |
$0.00 |
| Insured Portion |
$2,250.00 |
| Deductible |
$250.00 |
| 75% Savings On |
$2,000.00 |
| Total Savings |
$1,500.00 |
Subtract $1,500.00 from $2,000.00 = $500.00
| You Pay |
$500.00 |
| Deductible |
+ 250.00 |
| Monthly (@ $35) |
+ 420.00 |
| Doughnut Hole |
+ 750.00 |
| Total Annual Costs |
$1,920.00 |
Subtract $1,920 from $3,000... Your real savings = $1,080.00
or 36%
_______________________________________________________________________
Medicare
Supplemental Scenario Three (A):
In this scenario, you have two medications un-insured
| Total Annual Costs |
$4000.00 |
| Un-insured Meds |
$1700.00 |
| Insured Portion |
$2,250.00 |
| Deductible |
$250.00 |
| 75% Savings On |
$2,000.00 |
| Total Savings |
$1,500.00 |
Subtract $1500.00 from $2000.00 = $500.00
| You Pay |
$500.00 |
| Deductible |
+ 250.00 |
| Monthly (@ $35) |
+ 420.00 |
| Un-insured Meds |
+ 1,700.00 |
| Doughnut Hole |
+ 50.00 |
| Total Annual Costs |
$2,920.00 |
Subtract $2,920.00 from $4,000... Your real savings =
$1,080.00 or 27%
_______________________________________________________________________
Medicare Supplemental
Scenario Three (B):
In this scenario, you are fully covered
| Total Annual Costs |
$4,000.00 |
| Un-insured drugs |
$0.00 |
| Insured Portion |
$2,250.00 |
| Deductible |
+ 250.00 |
| 75% Savings On |
+ 2,000.00 |
| Total Savings |
$1,500.00 |
Subtract $1,500.00 from $2,000.00 = $500.00
| You Pay |
$500.00 |
| Deductible |
+ 250.00 |
| Monthly (@ $35) |
+ 420.00 |
| Un-insured drugs |
+ 0.00 |
| Doughnut Hole |
+ 1,750.00 |
| Total Annual Costs |
$2,920.00 |
Subtract $2,920.00 from $4,000... Your real savings =
$1,080.00 or 27%
_______________________________________________________________________
These calculations are estimates only, and meant to help
provide a realistic overview of actual savings with the
most basic Medicare supplement policies. Please consult a Medicare part D specialist.
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