When you reach your coverage gap (donut hole) in your Part D plan in 2010 you will receive a rebate check for $250 . You do not have to fill out any forms or enroll in any extra plans to receive the check. It is sent out automatically once your part D company notifies Medicare .
Be careful because fraud has occured where medicare recipients receive letters or email asking for personal information in order to process their rebate check . You do not have to do anything extra. Never share any personal inforamation with anyone trying to get your rebate check to you faster or saying you have to provide more info to qualify . If you are contacted for such information go to www.Medicare.gov and click on the “Stop Medicare Fraud” button.
As soon as your part D company notifies Medicare you have hit the coverage gap, the rebate check will be sent and should arrive in about 45 days . If you hit the gap and do not receive a rebate check, consult you part D company and make sure they notified Medicare of your situation .
The $250 rebate is not taxable and is for 2010 only . Beginning in 2011 other measures will take effect to help cover the donut hole in Part D . There will be no rebate check in 2011 or after.
If you reach the part D coverage gap (donut hole) in 2011, you will get a 50% discount on your name brand prescriptions at the time you buy them unless you are already getting Medicare Extra Help .
As with the 2010 rebate, you do not have to do anything extra to qualify for the discount . Once your part D company notifies Medicare of your coverage gap, you will be eligible for the 50% reduction in prices.
The Affordable Care Act passed earlier this year is what brought about these two changes . There other changes as well that pertain to Medicare Advantage plans and how they are funded.
Please refer to our website at www.MedicareBenefitsDirect.com for more information and to request information for your specific needs.
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