Medicare Part D: Understanding the Dreaded Donut
Hole
The Donut Hole is a coverage gap in Medicare drug plans. After your plan has paid a certain amount for covered medications (no more than $2400),you will have to pay all costs for medications out
of your own pocket until your drug costs hit the limit of $3850 – that's the donut hole.This does not include the monthly premium When
you reach your plan's out-of-pocket imit your plan
will convert to catastrophic coverage and you will pay a coinsurance amount for the remainder of the calendar year. The coinsurance amount is
a 5% of the medication costs
Recommendations:
- Four million people faced the Donut Hole in 2006.so you may
want to consider a plans that offers gap coverage.Evaluate your choices carefully - and weigh the difference for you between a higher monthly premium and gap coverage.
- Talk with your doctor about prescribing generic drugs when possible to reduce your costs.
- Use mail order and online pharmacy services to reduce costs.
- If you are struggling with the costs of a prescription, talk to your doctor to see if a less expensive alternative is available.
- Prevention is the best medicine. Make healthy choices today – in what you eat, what you do, and how you live – to prevent or improve the course of diseases that require prescription medications.
You can use Healthline's Part D Plan Selector to find which plan might be right for you. Click here to learn more.
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