Obamacare Changes Medicare Part D:
Medicare Beneficiaries that have high drug costs now, are very familiar with what is referred to as the, “The Donut Hole”.
Coverage Gap or “Donut Hole”: Once a Medicare Beneficiary and the Part D Plan have spent $2,970 on prescription medications, the Beneficiary’s cost increase. Obamacare is requiring Medciare Part D Plans to pay more during the “Donut Hole”.
Obamacare has already started to increase what each Medicare Part D Plan is required to pay when the Medicare Beneficiary reaches the “Donut Hole”.
Below is a chart of what has happened and what is expected to happen through 2020. As you will see, in 2020, the Medicare Part D Plan will pay 75% of each brand name medication, and the Beneficiary will be required to pay only 25%.
The table below shows the percentage of what a Medicare Beneficiary is and will pay through Medicare Part D due to Obamacare.
|
YEAR |
Brand |
Generic |
|
2012 |
50% |
86% |
|
2013 |
47.5% |
79% |
|
2014 |
47.5% |
72% |
|
2015 |
45% |
65% |
|
2016 |
45% |
58% |
|
2017 |
40% |
51% |
|
2018 |
35% |
44% |
|
2019 |
30% |
37% |
|
2020 |
25% |
25% |
Example: For a brand name medication that costs the $200.00.
PAST 2012: Once the Medicare Beneficiary entered the “Donut Hole”, the person had to pay $100.00 for a 30 day supply.
PRESENT 2013: This year when the Medicare Beneficiary enters the “Donut Hole”, they pay$95.00 for a 30 day supply.
FUTURE 2020: When a Medicare Beneficiary enters the “Donut Hole”, the cost will only be $50.00 for a 30 day supply.
Posted by Robert Bache aka MedicareBob™ 05/14/2013.
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