The Donut Hole- Medicare Part D

This post discusses the coverage gap that occurs within you Medicare Prescription Drug Coverage Plan.

Donut Hole– this coverage gap occurs when you and your Medicare drug plan have spent a set amount of money for covered drugs and you begin “out-of-pocket” paying for your prescription drug costs until you reach the catastrophic coverage point in which your Medicare drug coverage plan will begin again. In the case of 2013, once you and your Medicare drug plan have spent $2,970 on covered drugs, the coverage gap will start. You will not reach catastrophic coverage until you have spent $4700 out-of-pocket for the year.

In order to counterattack high costs during the coverage gap, the Affordable Care Act includes benefits to help make your prescription drug coverage more affordable once you are in the “donut hole”.

These are the four benefits you will receive:

  1.  A discount on covered brand-name drugs when you buy them at a pharmacy or order them through the mail.
  2.  Some coverage for generic and brand-name drugs
  3.  Additional savings on brand-name and generic drugs
  4.  Maintaining the 50% discount the manufacturers offer and increasing their Medicare drug plans cover.

If you would like to find out more about the donut hole, click this link:

If you have questions choosing a Medicare plan that offers the coverage you need, contact us at MedicareSolutions at 1-800-328-7305 where a licensed sales agent will immediately assist you.