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Our Caregiver's e-Mall is filling up with great stores and a growing number of items just in time for the holidays. Whether you browse and find a book or tape to help you with caregiving, or come across a wonderful gift for a friend or family member, the e-Mall can be your source for easy shopping and gift-giving.

So, click on the dark blue Caregiver's e-Mall buttons throughout our site and enter a comfortable, secure shopping experience with major merchants while avoiding the hassle of having to find a parking place or matching your shopping hours with someone else's. Our mall is just a click away and is open 24 hours every day.

Watch for additional stores opening in the e-Mall soon!

 

   
posted: November 27, 2005

Timely Tips

Timely Tip: Medicare Part D Explained – A Glossary

Medicare Part D represents the most sweeping changes in the federal government’s healthcare program for the elderly in nearly 50 years. But the program, which takes effect on January 1, 2006, has been criticized as overly complex, when simplicity is needed.

Our series on Medicare Part D goes into great detail explaining the program’s ins and outs from the standpoint of the family caregiver, including whether the program is right for your loved one. Check our first article explaining the program and our second on 10 steps to help you navigate the complex program.

Meanwhile, here is a brief glossary of basic terms related to Medicare Part D to help you chart your course through the program’s complexities.

Enrollment Period – The period of time in each year when an individual can elect coverage in a prescription drug plan or change to another plan without penalty.

Co-payment – The amount of money paid by an individual, a percentage of the total cost with the balance being paid by the insurance company.

 

Coverage Gap or Donut Hole -- The stage in many of the Medicare Prescription Drug Plans (PDPs) where the total cost of prescriptions falls to the plan beneficiary.

 

Creditable Coverage – Drug coverage offered by other plans, such as employers or unions, which provide coverage at least as good as the Part D plans.

 

Deductible – The annual amount of money to be paid by the enrollee before the insurance plan begins to provide payment for services. The actual dollar amount varies from plan to plan. Most often plans with lower deductibles have higher premiums.

 

Formulary – A listing of the drugs covered by a specific drug coverage plan.

 

Medicaid – A state/federally sponsored program for individuals who meet both income and health criteria due to exceptional need. This is a financial assistance program that provides assistance with health and medical expenses. Names for the program vary from state-to-state.

 

Medicare Part A – The Medicare benefit designed to assist with the cost of hospitalization, home health services, or skilled nursing care facilities.  Provided without cost to eligible enrollees.

 

Medicare Part B -- The Medicare benefit that covers most costs related to doctor visits, outpatient care and other similar services. This is a premium-based program.

 

Medicare Part D -- The new Medicare program and benefit designed to provide prescription drug coverage for Medicare beneficiaries who have Medicare Part A and/or B.

 

Medigap – An insurance plan that provides supplemental coverage received from Medicare. Enrollees typically purchase these plans to cover costs not underwritten by Medicare.

 

Premium – The monthly cost of maintaining an insurance policy. Premiums must be paid on a timely basis in order to avoid a lapse or cancellation in coverage.

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