Part D coverage can be gotten two ways:
- Standalone, if you only have Medicare Part A and Part B coverage, or Parts A and B with a Medigap plan, or if you have a PFFS Medicare Advantage plan.
- Included with other types Medicare Advantage plans.
This is a general outline of how the Part D prescription drug plan works for 2017. Each plan may operate a bit differently so it is important to fully understand which plan will work best for you.
- Annual Plan Deductible - $0 to $400
- Initial Coverage Period – you have copays or 25% coinsurance
- Coverage Gap (Donut Hole) – Begins at $3701 (you pay 40% of brand and 51% of generic drug costs)
- Catastrophic Coverage – over $7425, you pay the greater of 5% of drug price or a small copay.
Before deciding on a standalone drug card you should carefully review your drugs on www.Medicare.gov to determine which card will work best for you. This is a service we provide to our clients.
Contact DelVal Senior Advisors today to learn more about
Medicare Part D Prescription Drug Plans.
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Insurance Plans: Medicare Supplement (Medigap) | Medicare Advantage | Medicare Prescription Drug Plans