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Prescription drug coverage 2003-12-04
From Khadijah:
Last week congressional approval was given to legislation involving prescription drug coverage for seniors. One summary of the legislation explains that it is estimated that in 2006 a senior will pay a premium of $35 per month, then pay their first $250 in pharmacy bills. After the bills reach $250, the coverage would pick up 75% of their bills that bring their total bills between the $250 and $2250 mark. After their bills reached a total of $2250, the senior would be responsible for all bills bringing their total annual bills between $2250 to $5100. Then any bills after the $5100 mark has been reached will be 95% covered by the insurance. Using this information, letís analyze the situation of a senior who accumulates $6000 in pharmacy bills over one year and has the insurance coverage. Over the course of this year, how many dollars will the senior pay?
Answered by Penny Nom.
 
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