The donut hole is and has been a big problem for Seniors but help is on the way!
The Medicare Part D donut hole affects many millions of seniors. Seniors with annual drug expenses exceeding $2,830 had to pay all of their drug costs up to $4,550, at which point catastrophic coverage went into effect. Unfortunately, some seniors in the donut hole did not take or cut up their medications. Consequently, this made their condition worse. Basically, if seniors don’t be sparing or withhold their prescribed drugs, their long-term health improves dramatically.
However, the new healthcare law completely phases out the donut hole. Last year, the government sent $250 rebate checks to Medicare recipients in the gap. This year, those recipients will automatically be eligible for discounts on brand name prescriptions that will cut their costs in half. The donut hole will disappear entirely within this decade. Medicare Part D provides crucial drug coverage to our nation’s seniors. The program’s improvement will mean lower bills and more medical options for millions of seniors, if it is not overturned.
At Senior Life Care Planning we help your loved ones find resources to stay safe and independent as long as possible.Tags: catastrophic coverage, donut hole, drugs, medicare Part D, new healthcare law, senior life care planning