Over the past several weeks we have received several Donut Hole Coverage questions, and wanted to take a few minutes this week to address what has changed in 2011. With the passage of the healthcare act in 2010, several provisions were put in place to help alleviate the burden of the donut hole or coverage gap that 24% of all Medicare recipients with Part D coverage experience each year. Here are a few facts about the program, and what has changed in 2011. The initial deductible for those with Medicare Part D in 2011 is $310. This means the enrollee will foot the bill for the first $310 in prescription charges entirely. The coverage limit for 2011 is $2,840. This means that the total amount of charges (both what you pay out of pocket, and the portion the insurance kicks … Continue reading
Donut Hole Coverage 2011
It is no doubt that over the last week or two, you’ve read articles, watched t.v., or listened to the radio where Healthcare Reform was the main topic. No matter what side of the fence your on, the bill has passed, and so it is important to understand how it will affect you over the coming years. This week, we’ll take a look at how Medicare Part D or Medicare Prescription Drug Coverage will be affected. Here is the breakdown: In 2010, Medicare Part D participants who reach the coverage gap (otherwise known as the doughnut hole) will receive a $250 rebate In 2011, Medicare Part D individuals who reach the coverage gap will receive a 50% discount on brand name drugs, but not until they reach the coverage gap. Brand name drugs will be subsidized slightly more each year … Continue reading
