Examples
Sam, age 65, spends less than $50
per month on prescription drugs.
Sam just
turned 65 in October 2008. He is in good health
and takes just one medication for his blood
pressure. He is deciding whether or not he
should spend the money to get a Medicare
drug plan. On the one hand, he is healthy now
and is reluctant to spend the money. On the
other hand, he recognizes that life can change
quickly and having insurance can protect him
from the unexpected. Sam decides to look for a
Medicare Prescription Drug Plan with a very low
premium. He finds a plan that includes:
Sam doesn’t save any money this year, but he
realizes that for a small investment he has
coverage in case his health care needs change
quickly. He also realizes that by signing up now,
when he is first eligible, he avoids paying more
in future years. Sam knows that he can change
plans in the future (during the annual election
period and open enrollment period) if he needs to
find a plan that better fits his needs.
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