5 - Medicare Part D Flashcards
The individual _____ be enrolled in Medicare Part A and/or Part B to enroll in the Medicare Part D.
-MUST
The principal purpose of Medicare Part D (Prescription Drug Plan) is to provide a ______ benefit for Medicare Beneficiaries
-prescription drug
Enrollees pay a deductible of ____ for drug costs before the Prescription Drug Plan (PDP) plan starts to pay its share.
-$405
The enrollee pays ____ of the drug costs and the plan pays ____ for each covered drug until the combined amount (plus the deductible) reaches what is referred to as the Initial Coverage Limit (ICL) amount of _____
- 25%
- 75%
- $3750
Once the enrollee and the plan have spent $3,750 for covered drugs, the enrollee enters what is referred to as the _________ (aka the Donut hole).
-Coverage Gap
Coverage Gap
-$3750 - $5000
Once $5,000 has been paid out-of-pocket by the enrollee, the enrollee enters into the ______________ portion of the Medicare Prescription Drug Plan (PDP).
-Catastrophic Coverage
The average premiums, referred to as the national base beneficiary premium, in 2018 for a Medicare Prescription Drug Plan (PDP) are expected to be ______ per month.
-$33.50
Medicare Part D enrollees that wish to utilize “creditable coverage” must enroll in a Medicare-approved Prescription Drug Plan (PDP) within how many days of disenrolling from the previous qualified health plan?
-63 days
The open enrollment period for Medicare Part D ends annually on _________.
-December 7th
The term used by Medicare to indicate that a person is being subsidized in the Prescription Drug Plan (PDP) is _______.
-Extra Help
With Medicare Part D, the penalty is based on a ___ per month assessed penalty for delayed enrollment after the end of the Initial Enrollment Period (IEP).
-1%
Insurance under an employer or union plan is referred to as _______
-Creditable Coverage
