Prescription Coverage to Fill the Medicare Donut Hole
Part D coverage under medicare helps you cover the often significant costs of prescription medication. But there is a hole in this coverage, often called the donut hole. Medicare prescription plans can fill this gap and help reimburse costs that wouldn't otherwise be covered.
Basically, after you have paid your deductible, medicare pays for prescription reimbursement up to a certain dollar amount. In 2016 it was $3,310. After that, you pay the full amount of prescription costs* up to the out-of-pocket maximum. In 2016 this amount was $4,850. After that maximum is reached you only pay a small copayment for prescription drugs.
You have to decide how significant the donut hole is for you but we can help and we can help get you insurance protection while you are in the gap.
Contact us to learn what we can do for you.
*Actually you don't pay the full amount, but a specified percentage of your plan's price for a drug. That discounted amount, plus the discount paid by the drug company, both count toward your out-of-pocket calculation.
Do you have questions about Medicare Rx?
Contact an insurance specialist at InSouth Insurance Services today to answer any questions about Medicare Rx or for a free review and insurance quote for Medicare Rx.