Medicare Part D is also called the Medicare prescription drug benefit. You are entitled to this benefit if you have Part A and or B. These Part D plans are offered through private insurance companies approved by Medicare. The cost of your drug plan is dependent on your current medications.
You reach the Coverage Gap when you and the insurance company have paid around $3,700. At this point you will be paying 40% for brand name drugs and 51% for generic drug in 2017
Catastrophic coverage kicks in when you have paid $4,950 out of your pocket for your drugs (this does not include your premium). During catastrophic coverage, you pay either a 5% coinsurance for covered drugs or a co pay of $3.30 for generic covered drugs or $8.25 for covered brand name drugs, whichever is greater!
Part D can end up being an incredibly costly piece of your HealthCare. We give you peace of mind that the plans you are considering are the best coverage at the lowest annual cost! Examples of what we might do for you are:
We are contacted/certified with several insurance carriers to represent their Prescription Drug plans. This means we can offer you are broad look at all available plans in your area to ensure you are getting the right plan for YOU.