2017 Low-Income Subsidy Benchmark Premium Amounts for Medicare D
New York ranks highest at $40.99 for 2017
As a reminder, the benchmark is the maximum monthly premium that will be paid by CMS for persons qualifying for "Extra Help." If a person receiving the low-income subsidy (LIS) enrolls in a Medicare Part D plan that has a premium higher than the subsidy amount listed for their state, the beneficiary is responsible for paying the difference in premium.
There are 8 New York Stand-Alone 2017 Medicare Part D Prescription Drug Plans (PDP) that qualify as NYS benchmark plans. To view the 8 plans, click the preceding link, then click on NY to indicate state and also choose Full Low Income Subsidy- YES, show only plans that qualify for $0 premium, then click the green button that says "Click to Find Plans".
Medicare Part D 2017 Open Enrollment Has Begun
"Medicare Part D is a crucial program if you or a loved one is a Medicare recipient who takes medication to treat your mental illness. The new 2017 guide for Medicare Prescription Drug Annual Enrollment is now available from Medicare Access for Patients Rx (MAPRx). Compare plan choices and find the plan that best meets your prescription medication needs.
For more information, click here.
Enrollment for Medicare prescription drug coverage is open until Dec. 7, 2016."
Please note that for people who are eligible for "Extra Help" or who qualify for both Medicare and Medicaid, there is no deadline. In other words, signing up or switching plans may occur at any time.
However, it is strongly advised that recipients view the 2017 plans to determine if their medications are still covered in their current plan; if not, they may wish to ask for an exception in their current plan or they may wish to switch to a different plan that has their medications. Use Medicare's plan finder.
Often the formulary that lists the insurance company's covered medications is only a "Partial Formulary". If a person does not see his/her medication listed, do not assume the medication is not covered. Call the insurance company to inquire if the medication is listed in the Complete Formulary and inquire if there are any quantity limitations or other restrictions.
You should also check if the pharmacy you currently use is still a participant in your plan for 2017.