It is not too often that we can talk about a federal program that costs less than projected and is getting results. Yet, the Medicare Part D program to provide prescription drugs to seniors is doing exactly that.

According to the Centers for Medicare and Medicaid Services the program is costing about 30 percent less than the projection in 2003. The average monthly payment for seniors is much less than the $38 it was projected to be. Competition between plans has lowered the costs for every senior.

It is also saving seniors money. According to the American Association for Retired Persons (AARP) a full 69 percent of seniors report that they are saving money. Some are saving hundreds of dollars and others are saving thousands of dollars depending on their monthly prescription drug bill.

There are multiple plans, which will allow you to choose which plan works the best for you. The standard plan has a $250 deductible and requires a co-payment up to $2,250 in prescription drugs. Once seniors pay $3,600 of out of pocket expenses they will only pay five percent of costs for the rest of the year.

If you are eligible and have not signed up, I encourage you to do so. The program will accept new enrollees from mid-November until December 31st. You can call 1-800-MEDICARE for more information.

Seniors are saving money and its costing less than expected. Like any government program, it is not perfect, but it is working.

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