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Medicare Part D - Prescription Drugs

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  • Jay Strernin
    Anyone have any insight on what IBM is going to do vis-a-vis Medicare Part D, Prescription Drug Benefit?
    Message 1 of 4 , Jun 4, 2005
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      Anyone have any insight on what IBM is going to do vis-a-vis Medicare
      Part D, Prescription Drug Benefit?
    • mmathguyh
      It s a complicated mess. I doubt if IBM is sure of what they plan at this point. IBM gets a fair sized payment from the government if they continue providing
      Message 2 of 4 , Jun 6, 2005
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        It's a complicated mess. I doubt if IBM is sure of what they plan at
        this point. IBM gets a fair sized payment from the government if they
        continue providing RX benefits. BUT certian conditions have to be
        met. I believe these conditions include such things as the plan has to
        be at least as good as Medicare, IBM CANNOT require that you pay
        Medicare Part D premiums, etc.

        We will just have to wait and see.

        --- In ibmretiree@yahoogroups.com, "Jay Strernin" <jaysternin@y...>
        wrote:
        > Anyone have any insight on what IBM is going to do vis-a-vis Medicare
        > Part D, Prescription Drug Benefit?
      • tx_rodmaster
        You are very right. I just received a letter from IBM today regarding Medicare D and if you read between the lines it basically says that IBM doesn t know
        Message 3 of 4 , Jun 6, 2005
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          You are very right. I just received a letter from IBM today
          regarding Medicare D and if you read between the lines it basically
          says that IBM doesn't know whats hoippening. Overall says analyze
          your IBM and Medicare D very carefully when 2006 plan comes out.

          --- In ibmretiree@yahoogroups.com, mmathguyh <no_reply@y...> wrote:
          > It's a complicated mess. I doubt if IBM is sure of what they plan
          at
          > this point. IBM gets a fair sized payment from the government if
          they
          > continue providing RX benefits. BUT certian conditions have to be
          > met. I believe these conditions include such things as the plan
          has to
          > be at least as good as Medicare, IBM CANNOT require that you pay
          > Medicare Part D premiums, etc.
          >
          > We will just have to wait and see.
          >
          > --- In ibmretiree@yahoogroups.com, "Jay Strernin"
          <jaysternin@y...>
          > wrote:
          > > Anyone have any insight on what IBM is going to do vis-a-vis
          Medicare
          > > Part D, Prescription Drug Benefit?
        • Jay Strernin
          did a little research -- It appears that PArt D will cost each person approx. $450 per year (in 2006). There s a $250 annual deductible and after that you pay
          Message 4 of 4 , Jun 6, 2005
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            did a little research --
            It appears that PArt D will cost each person approx. $450 per year (in
            2006). There's a $250 annual deductible and after that you pay a 25%
            copay of the drug price (not clear who controls the drug price).

            There's a cap of $2250. Then coverage stops until you spend another
            $2850 out of pocket. Coverage then resumes and you then pay 5% copay.

            Medicare will provide companies (e.g. IBM) tax free subsidies of 28%
            of their drug cost if they provide a plan at least equal to Part D.

            So, right now I have only a Prescription Drug plan from IBM for myself
            and wife. Cap is $2500 and no annual deductible. Cost to me is $0.00
            (not a typo).

            In theory, IBM could increase my plan cost, add a deductible and still
            get money from the Feds to boot.

            If you chose not to immediately signup for Part D, then the premium
            increases should you deceide to do so later (ala Part B).

            Like the man said, we just gotta wait.......

            --- In ibmretiree@yahoogroups.com, tx_rodmaster <no_reply@y...> wrote:
            > You are very right. I just received a letter from IBM today
            > regarding Medicare D and if you read between the lines it basically
            > says that IBM doesn't know whats hoippening. Overall says analyze
            > your IBM and Medicare D very carefully when 2006 plan comes out.
            >
            > --- In ibmretiree@yahoogroups.com, mmathguyh <no_reply@y...> wrote:
            > > It's a complicated mess. I doubt if IBM is sure of what they
            plan
            > at
            > > this point. IBM gets a fair sized payment from the government if
            > they
            > > continue providing RX benefits. BUT certian conditions have to
            be
            > > met. I believe these conditions include such things as the plan
            > has to
            > > be at least as good as Medicare, IBM CANNOT require that you pay
            > > Medicare Part D premiums, etc.
            > >
            > > We will just have to wait and see.
            > >
            > > --- In ibmretiree@yahoogroups.com, "Jay Strernin"
            > <jaysternin@y...>
            > > wrote:
            > > > Anyone have any insight on what IBM is going to do vis-a-vis
            > Medicare
            > > > Part D, Prescription Drug Benefit?
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