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Medicare Modernization Act

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Highlights of Planned Medicare Reform

If you are eligible for Medicare then you should know what's in store for you with the passing of the Medicare Drug Improvement and Modernization Act of 2003, also known as the Medicare Modernization Act (MMA). The timeline and phases of the planned reform are as follows:

2004: Medicare-approved discount drug cards available.

For the first phase of the Medicare Modernization Act, the Center for Medicare (CMS) has contracted with 73 private drug companies with the intent to save Medicare beneficiaries 10-25% on drugs before additional options are available in 2006.

2005: New and improved preventative benefits.

For this phase of the Medicare Modernization Act, the CMS will introduce coverage of one-time wellness exam; screening blood tests for cardiovascular diseases; and screening for diabetes.

2006: Prescription drug plans.

Following this phase of the Medicare Modernization Act, a Medicare plan will cost $35 per month with a deductible of $250.

Then, when you spend: $250-$2,250, you pay 25% $2,2250-$3,600, you pay 100% More than $3,600, you pay about 5% More information about each of the phases of the Medicare Modernization Act can be found at the the official site for people with Medicare. Or, if you would like to speak to a representative about the Medicare Modernization Act then call 1-800-Medicare.For more history on the Medicare Modernization Act, please read Understanding the Medicare Modernization Act.

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