Since January 1, 2006, new Medicare prescription drug coverage is available to everyone with Medicare. Everyone with Medicare can get this coverage that may help lower prescription drug costs and help protect against higher costs in the future. Medicare Prescription Drug Coverage is insurance. You choose the drug plan and pay a monthly premium. In many cases the savings through Medicare alone is still lower than the savings that can be achieved through purchasing from CanaRx. The total yearly medication cost should be used to compare how the program will help/or not help you. In many cases it is best to utilize both CanaRx and Medicare Part D.

Should I Enroll with Medicare D?

Before deciding to enroll you should add up the yearly costs of your medications and see how the program will help you. You should also do price comparisons between your local pharmacy and CanaRx. Many of our patients find they can achieve greater savings buying their medications through CanaRx.

When does Medicare Part D start?

January 1, 2006. The initial enrollment period for beneficiaries begins November 15 and ends on May 15, 2006. If you enroll before January 1st, the coverage starts January 1st. If you enroll after January 1st, your coverage begins on the 1st of the month in which you have enrolled.

Can I be penalized for not enrolling in the Part D program if I do not enroll during the initial enrollment period?

If you do not currently have creditable drug coverage (defined as at least as good as Part D), then you will incur a penalty for not enrolling during the initial enrollment period (by May 15/2006.) After that point, the penalty is compounded monthly at $0.367/month. Therefore, by delaying for a year, the monthly premium would increase by $4.40/month. If you do have creditable coverage, you will be able to enroll in Part D at a later date with no penalty. So basically if you wait till 2007 to enroll in Part D, your yearly average premium increases from $440/year to $493/year.

How much will the plans cost / what are the monthly premiums?

When you get Medicare prescription drug coverage, you pay part of the costs, and Medicare pays part of the costs. You pay a premium each month to join the drug plan (generally around $37 in 2006 for standard coverage). If you have Medicare Part B, you also pay your monthly Part B premium. If you belong to a Medicare Advantage Plan or a Medicare Cost Plan, the monthly premium you pay to the plan may increase if you add prescription drug coverage.
Your costs will vary depending on which plan you choose. Your plan must, at a minimum, provide you with a standard level of coverage as shown below. Some plans offer more coverage or lower premiums.

Standard Coverage (the minimum coverage drug plans must provide):
If you join in 2006, for covered drugs you will pay:

• a monthly premium (varies depending on the plan you choose, but estimated at about $37).
• the first $250 per year for your prescriptions. This is called your "deductible."
  After you pay the $250 deductible, here's how the costs work:
• You pay 25% of your yearly drug costs from $250 to $2,250, and your plan pays the other 75% of these costs, then
• Once your yearly costs has reached $2,250, you pay 100% of your drug costs until your yearly cost exceeds $5,100
• At this point your yearly drug costs have exceeded $5,100 and you pay only 5% of your drug costs (or a small co-payment) for the rest of the calendar year. After you have spent $3,600 out-of-pocket. Your plan pays the rest.
  If your annual income is less then $14,355 for a single person, or $19,245 if you are married and living with your spouse, then you will qualify for further savings through Medicare Part D.

Is it still worth it to purchase my medications from CanaRx?

Yes, depending on your yearly medication expenditure and income level it is still a very good savings to purchase your medications from CanaRx. Please contact our staff for consultation.

Can I use Medicare Part D and continue to purchase medications from CanaRx?

Yes, many patients fall into the “Doughnut hole” defined in Medicare Part D. This is the range of 0% coverage for yearly medications in excess of $2,250 and below $5,100.

What medications if any should I purchase through the Medicare Part D?

You should purchase your Narcotics / Controlled Substances, Lifestyle, Antibiotics, and any Refrigerated Products as these products are unavailable from CanaRx.

What are some examples of medications I should consider purchasing from CanaRx?

CanaRx can provide the greatest savings on Brand Name Maintenance Medications. A Savings of 30-70% is common for our patients. You can find out more by calling our Customer Service Representatives, or browsing this website.

Can I buy my medications through the Medicare Part D program and when I have reached the maximum coverage resume my purchasing through CanaRx?

Yes, but better over all savings would be obtained by purchasing Name Brand Maintenance Medications through CanaRx from the beginning. This would maximize your coverage for the medications that are not available from CanaRx.

What are the savings if I continue to purchase my medications though CanaRx?

You will continue to experience the same great savings and if all your medications are available through CanaRx you may find it not beneficial to enroll in Medicare Part D.

Can I see a chart comparing the cost of Medicare Part D costs compared to CanaRx Costs?

Medicare Part D Vs CanaRx Out-of-Pocket Expenses

Medicare Part D Out-of-Pocket Annual Expenses  CanaRx Out-of-Pocket Annual Expenses

Notes: The CanaRx Savings is based on a 40% average savings. Many of our patients experience savings above the 40% used in this example. If you purchase your medications from both Medicare Part D & CanaRx you can Maximize your savings even greater than illustrated above. This graph is based on an estimated monthly premium of $35.00, and that you have enrolled in Medicare Part D when it was launched as to not suffer any surcharges. Your annual income is above $14,355 for a single person, or $19,245 if you are married and living with your spouse