From the National Academy of Elder Law Attorneys, Inc

This is a non-profit organization based in Virginia specializing in Elder Law and Special Needs Law established in 1987.

• Prescription Drugs: Medicare beneficiaries who entered the Part D prescription drug plan “donut hole” coverage gap in 2010 received a one- time $250 rebate check. Checks were automatically mailed throughout the year to qualified beneficiaries who entered the coverage gap.
• In 2011, Medicare beneficiaries who reached the “donut hole” received a 50 percent discount when buying Part D-covered brand name prescription drugs and a 7 percent discount when buying generic prescription drugs.
• Upper-income individuals ($85,000 annual income for individuals or $170,000 for married couples filing jointly) began paying higher Part D premiums. This change affected about 2 percent of Medicare beneficiaries in 2011; however, these thresholds are frozen and will affect more people each year because of inflation.
• Effective 2010….”Over the next 10 years, the Part D “donut hole” will be gradually closed/eliminated.”
• Part D co-payments were eliminated starting Jan 1, 2012 for individuals who are eligible for both Medicare and Medicaid and who are receiving home and community-based services.
• Medicare Advantage Plans: Medicare Advantage (MA) plans will continue to be required to provide the same benefits that are provided by traditional Medicare. Congress did not make any changes to Medicare guaranteed benefits.
• Starting in 2014, Medicare Advantage plans will be required to spend at least 85 percent of every dollar they receive on health care.
• Medicare Solvency: Over the next 20 years, Medicare spending will continue to grow, but at a slightly slower rate as a result of reductions in waste, fraud, and abuse.

Source: National Academy of Elder Law Attorneys, Inc (A non-profit organization based in Virginia specializing in Elder Law and Special Needs Law established in 1987). More information is provided as a public service and is not intended as legal advice. Additional information can be found on http://www.naela.org