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To get Medicare prescription drug coverage, you must choose and join a Medicare drug plan.
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You can join a Medicare drug plan between November 15–December 31 each year. Your coverage will begin January 1 of the following year.
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If you join, your costs will vary depending on which plan you choose. In general, you may pay a monthly premium and a yearly deductible (up to the first $295). You will also pay a share of your prescription drug costs, and your plan pays a share. Medicare helps pay for drugs up to a limit ($2,700 in total) and once your total out-of-pocket costs for drugs reach $4,550, you pay 5% of the costs and Medicare pays 95% of the costs for the rest of the year. The amounts shown are for 2010
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Many people with limited income and resources will get extra help paying for their Medicare prescription drug coverage. People with the lowest incomes and resources will get the most help.
