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Mutual
of Omaha Medicare Part D - The Comprehensive Medicare
Prescription Drug Plan - 2008
Why you should Sell 2008 AdvantraRx Part D Plans:
- Cost: AdvantraRx Value is very competitive
- Coverage: AdvantraRx Premier Plus covers tier 1 medications with a $15 co-pay in the coverage gap
- Convenience: More than 60,000 participating pharmacies, mail order option and 24/7 customer service
Overview
Part D will provide insurance coverage for prescription
drugs to those who choose to enroll. When a plan is
purchased the enrollee will pay a monthly premium and
a co-payment or coinsurance for each prescription they
fill. These cost will vary depending on what Part D
Plan they choose to buy.
Information
You Can Use:
2008 AdvantraRx Program Highlights - This spreadsheet addresses the differences between the 2007 and 2008 programs.
2008
AdvantraRx Plan Details - This bulletin provides
a brief timeline and details of the Part D program.
Plans
and Rates - A spreadsheet of the different Medicare
Prescription Drug Plans available and what the plans
cost along with co-pays.
Medicare
Part D Producers Guide - An overview and Q &
A's for producers in regards to Medicare Part D.
Questions
and Answers - Some additional answers to frequently
asked questions.
2008
Medicare Part D Certification Now Available
- ALL agents who will be soliciting Medicare Part D
policies marketed by Mutual of Omaha for open enrollment
beginning November 15, 2007 are required to take the
2008 Part D Certification. Those agents who took the
Part D certification in 2007 must also take the 2008
certification if selling again this year.
The 2008 Part D Certification requires that you read
through a presentation, confirm that you have read the
certification and allows you to print the contractual
documents for your file.
The 2008 Part D Certification is accessed on the Mutual
of Omaha website using the following directions:
www.mutualofomaha.com
Click on 'Agents and Brokers'
Click on 'Sales Professional Access Sign In'
Enter your Username and Password
Click on 'Medicare Part D Plans'
Click on '2008 AdvantraRX Certification'
Follow onscreen prompts
Key Dates
- Oct. 1 – Marketing begins; start talking about the plans with prospects, but don’t take an enrollment form – it’s the law
- By Oct. 31 – Current AdvantraRx customers receive the Annual Notice of Change letter
- Nov. 15 – First date you may accept 2008 AdvantraRx enrollment forms (Mutual of Omaha and Coventry cannot accept 2008 enrollment forms before Nov. 15)
- Nov. 30 – Last date Mutual of Omaha can receive a 2007 AdvantraRx enrollment form for a Dec. 1 effective date
- Dec. 29 – Last date Mutual of Omaha can receive a complete and accurate 2008 plan enrollment form for a Jan.1 effective date
- Jan. 1 – Effective date for those who bought a 2008 plan during the annual open enrollment period
Marketing
Material - Ordering instructions are below.
Available
Consumer Use Material:
(These are just samples. All are state specific)
Prospecting
Material:
(These are just samples. All are state specific.)
The marketing material above is available to contracted agents in the following
three ways:
- Download
from the Mutual of Omaha Agent Website
- Place
an order with Mutual of Omaha as directed after completing
the Certification
- Contact
Claire Geiger at 800.945.1953 X101 or claire@ltcsolutions.net
AdvantraRx
Producer Guide - This is a GREAT piece that goes
over just about everything.
Prescription
Formularies
- Here are the three different Formularies available
for clients to assist them in identifying which tiers
are associated with the prescription drugs that they
are taking.
Commissions
-
Mutual of Omaha will provide you with a commission schedule
once you have completed the Medicare Part D Certification.
Medicare
Part D FAQ's
Q. What is the annual
deductible? What are the rules that will apply after
the deductible is met?*
A.
The annual deductible for Part D Plans is $250. After
the deductible is met the enrollee must pay 25% for
the prescription costs that range from $250 to $2,250,
and the Plan will pay the remaining 75%. Prescriptions
costing $2,251 to $3,600 the enrollee must pay 100%
of the costs until the out-of-pocket costs reach $3,600.
If the enrollee incurs $3,600 in out-of-pocket costs,
they must pay 5% of the prescription costs (or a small
co-payment) for the rest of the year.
Please
note that Medicare set these guidelines for Part D Plans,
plans available to your customers may be different.
*Refer
to the chart on page 4 of the Producer's
Guide to the Medicare Reform Act of 2003.
Q.
If an enrollee already has a Medicare Supplement Plan
with prescription drug coverage, how will that be affected?
A.
If a Part D Plan is purchased, then they can renew their
policy minus the prescription drug benefit or select
a Medicare Supplement Plan that is state equivalent
during open enrollment (underwriting will not apply).
Q.
When is enrollment for the Medicare Part D Plan?
A.
Medicare beneficiaries who elect to participate in the
program can enroll without penalty anytime from November
15, 2005 to May 15, 2006. If a Part D Plan is purchased
after May 15th the premium will be higher (estimated
1% a month). Additional open enrollment period will
run from November 15 through December 31 of each year.
Q.
What will be the cost of a Medicare Part D Plan?
A.
The average cost for a Part D Plan will be $37 per month,
per person.
Q.
Where can I find additional information and Q&A's
on Medicare Part D?
A.
A great resource for further information and in depth
details about Medicare Part D can be found here.
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