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ARMED FORCES NEWS |
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Except for certain provisions affecting military retirees (previous item) the Medicare prescription drug act probably will not offer a reason for most retirees to stop using Tricare for Life or the Tricare Senior Pharmacy service. Under the act, drug discount cards will be available in April 2004, and low-income seniors will be subsidized for $600. In 2006, beneficiaries can sign up for a standalone drug plan or join a private health plan. They would be charged a premium of $35 per month, or $420 per year. After a $250 deductible is met, insurance would pay 75 percent of drug costs up to $2,250. Coverage would stop between $2,250 and $5,100, above which the act would cover 95 percent or require a modest copayment. Also available will be health insurance policies with high deductibles combined with tax deductible savings accounts. |
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