Wednesday, July 28, 2010
Half Price Drugs 2011 Home Care path
President Barack Obama signed into law The Affordable Care Act. The Affordable Care Act includes a mandate for a 50 percent discount on brand name drugs in 2011. Seniors in the donut hole and not able to receive low income assistance, will be eligible for the 50 percent discount. In 2010 the doughnut hole begins after you reach 2830.00 in total prescription drug spending and extends until your total drug costs for the year reach 6440.00. Note Medicare requires the drug to be prescription, not available over the counter, to be included in the calculation. This is significant in that most seniors utilize over the counter medications, vitamins, etc. on a daily basis. The Centers for Medicare and Medicaid Services have released documents that facilitate the implementation of The Affordable Care Act's provisions through a third party administrative contractor. The released documents have clarified how the drug discount program will be implemented. The Centers for Medicare and Medicaid Services will coordinate the drug manufacturers reimbursement for discount payments that Part D sponsors provide on behalf to applicable beneficiaries under the program through a third party administrative contractor. The Third Party Administrator will be mandated to participate in the process to verify the accuracy of the manufacturer discounts reported by the Part D sponsors. So, The Centers for Medicare and Medicaid have issued an agreement that drug manufacturers of applicable Part D drugs are required to sign in order to participate in the discount program.
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