More Affordable Prescription Drugs With Medicare?

When you are dealing with your Medicare coverage there may be a lot you don’t know and this is unacceptable.  Any time that your health and your finances are attached at the hip with something like health insurance it is good to know what you have going for you.  The following is a few things that you should know about Medicare Part D and getting more affordable prescription drugs.

• If you enter the Part D “donut hole” this year, you will receive a one-time, $250 rebate check if you are not already receiving Medicare Extra Help. These checks began mailing in mid-June, and will continue monthly throughout the year as beneficiaries enter the coverage gap.

• Next year, if you reach the coverage gap, you will receive a 50% discount when buying Part D-covered brand-name prescription drugs.  This is a new introduction into the drug portion of Medicare and it makes a lot of sense in relation to saving money and stress.

• Over the next ten years, you will receive additional savings until the coverage gap is closed in 2020.  This will be a fantastic time for Medicare coverage as the gap will have been closed and you can celebrate having cheaper coverage for what you need.

Entry Filed under: Benefits Explained

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