Paul Barrett Insurance Services Blog
2021 Medicare Part D Deductible, Costs & Copays. Donut Hole Discount Explained
Medicare Part D enrollees will receive a 75% Donut Hole discount on the total cost of their brand-name drugs purchased while in the Donut Hole. The discount includes a 70% discount paid by the brand-name drug manufacturer and a 5% discount paid by your Medicare Part D plan.
The 70% paid by the drug manufacturer; the 5% Part D plan discount together with the 25% you pay, count toward your TrOOP (True Out-of-Pocket) or Donut Hole exit point.
Part D changes for 2021 are:
Paul’s Part D Tips During Medicare’s Annual Enrollment Period from October 15th to December 7th be sure that all your prescriptions are covered by your standalone Medicare Part D plan or a Medicare Advantage plan with prescriptions and if your drugs are expensive make sure you compare options, which will begin January 1st.
Remember you will pay 100% of the cost if any prescriptions (generic or brand name) are not covered on your Medicare Part D plan.
Talk to your doctor or doctors about which brand name drugs can be changed to generics.
Be aware of available prescription assistance programs there are 12 State Pharmaceutical Assistance Programs for people on Medicare depending on what state you live in you may be eligible.
Remember most of us don’t see a doctor every month but we take our prescriptions daily and refill them every month, choosing the right Part D plan can be very important and you should choose wisely.
For help with your Medicare questions or choosing the right part D plan, call us 1-800-219- 0453 0r 631-358-5793 email questions to firstname.lastname@example.org
Local Office: (631) 358-5793