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How will I keep track of my out of pocket drug costs?
Many people have written eMails to us questioning how they will keep track of their personal prescription drug expenditures. As expected, each Medicare Part D plan approved by CMS is required to account for how much every one of their plan participants has spent on prescription drugs. However, each Medicare Part D plan may have various ways to track your personal prescription drug costs, including monthly written statements showing how much you have spent and your expenses in relation to "catastrophic coverage" (which starts with over $4550 in out of pocket expenses).
A Note on Mail Order Prescription Drugs
It seems as though almost all of the Medicare Part D plans will permit Mail Order fulfillment of prescription drug needs. Please be sure to review the programs closely. It is assumed that costs for Mail Order prescription drugs will be accounted for using the same system as over-the-counter purchases.
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Prescription Drugs purchased outside of the U.S.
Please note that any prescription drugs purchased from Canada or other foreign countries do not count toward your Medicare Part D plan's Total Out of Pocket Costs.
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Last updated on: 07/05/2009
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Life Insurance plays an important role in your families financial stability.
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