Is There A Way To Avoid The Coverage Gap While On Medicare Prescription Plans?

Understand, and delay or avoid, the coverage gap while on Medicare prescription plans

What Is The Coverage Gap In Medicare Prescription Plans?

Your yearly Medicare plan has 4 stages. Depending on your plan, during stage 1, you pay no deductible, and in stage 2, only the deductible. When you and your plan together have paid $2,830 on prescription drugs, you’ve entered stage 3, the coverage gap, or donut hole. Keep track of your monthly expenses to know if you are getting close to the coverage gap.

What Happens If I Reach The Coverage Gap In My Medicare Prescription Plan?

Once you reach the coverage gap, you will be fully responsible for covering the price of your prescription drugs, until December 31st, or until you have spent $4,500, whichever comes first. If you reach the $4,500 mark, you are then in stage 4 of your Medicare prescription plan and become eligible for catastrophic coverage.

What Can I Expect If I Reach The Catastrophic Coverage Stage While On My Medicare Prescription Plan?

In stage 4, your Medicare plan pays almost all of your covered prescriptions through the end of the year. Your responsibility will be to pay a copay of $2.50 for generic drugs and $6.30 for brand-name drugs for your prescriptions. The stages begin anew each year.

How Can I Delay Or Avoid The Coverage Gap While On Medicare Prescription Plans?

Ask your doctor if you qualify for free medications directly from the drug companies, and to see how many of your prescription drugs can be switched to cheaper generic or over-the-counter drugs. Get them in small quantities at first to see if they agree with you. Continue to use your card to get all allowed discounts. Use this method from now on to avoid the coverage gap next year.

Related posts

1. What Is A Coverage Gap For Medicare Prescription Plans?
2. How Much Should I Pay For Prescription Drugs While on Medicare With Plan D?
3. How will Medicare Part D help Me?
4. Can I Buy A Medigap Policy That Has Prescription Drug Coverage?
5. What is Medicare Drug Coverage?

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