2011 Part D Information – Breaking News About Premiums, Donut Hole Coverage

The Centers for Medicare and Medicaid Services released today the projected average premium for the Part D plans in 2011. Projected numbers for 2011 show that the monthly premiums will increase by approximately $1, from $29 in 2010 to $30 in 2011. This is good news for Medicare Part D policyholders who feared large increases in the Part D premiums next year.

With some of the changes caused by PPACA (i.e. “health insurance reform”), some Medicare enrollees, as well as some in the insurance industry expected the Part D premiums to increase a good bit for next year. So, this news is welcome.

The PPACA, which was signed into law in March, changed some of the benefit structure for Part D. The changes that beneficiaries will see from this include a 50% reduction in brand-name co-pays when they are in the “donut hole” and a 7% reduction in generic co-pays when they are in the “donut hole”. This will greatly help anyone who reaches the “donut hole” to save on their medications while they are in that coverage gap.

To get more information about Medicare Part D or these changes, visit Medicare Supplement Quote. You can also request information on Medicare Supplement plans (Medigap) and/or Medicare Advantage.

Medicare Part D – Annual Enrollment Period is Nearing

The annual enrollment period for Part D runs November 15-December 31. For 2011, that enrollment period is going to change; however, it will stay the same for one more year (2010).

This is the time of year to compare all of the new Part D plans to your current plan to see if there is any savings to be had on a Part D plan. You can do this on the Medicare.gov website, which was recently revised in an effort to be more “senior-friendly” (see for yourselves and let us know what you think?!?!). Or, you can get quotes for the available Part D plans through an agent or broker, particularly an independent agent so you can compare all of the options in a centralized place.

If you have a Medigap (or Medicare Supplement) plan, this is also a good time to re-evaluate it, based on price. The plans are standardized, so price is the primary comparison point. You need to make sure you have the best price possible on your selected plan, so that you can avoid paying more than you should.

Part D plans are NOT standardized. On the contrary, they change each and every year, with new formularies, deductibles and premiums. This makes it more important than ever to re-evaluate each year.

Medicare-Supplement-Comparison.com is a one-stop “shop” for comparing all of your Medicare insurance. You can re-evaluate your coverage, and in 85% of cases, save a good bit of money per month for the same exact plan. Insurance is anĀ  increasingly changing field, and if you don’t change with it, you are at the mercy of what an insurance company wants to charge you. To get Part D information/quotes (starting in October) or Medicare Supplement quotes, visit us at www.medicare-supplement-comparison.com.