With new changes in Medicare Part D prescription drug coverage from 2017 to the new 2018 plans, many benefiting from Medicare are wondering how their plan will change.
Medicare Part D, which is responsible for covering prescription drugs, is showing changes from the initial deductible to the out of pocket threshold, continuing the trend of increases from 2014-2018.
In the sections below, we’ll discuss the changes that will take effect regarding Medicare drug plans for 2018.
2018 Changes for Medicare Part D Prescription Drug Plans
Standard Medicare Part D Initial Deductible for 2018
Initial Coverage Limit for 2018 Medicare Prescription Drug Plans
Total Out of Pocket Threshold (TrOOP) for Medicare PDPs in 2018
What is the Coverage Gap and How Has It Changed in 2018?
However, starting in 2018, Medicare Part D policy holders will now receive a 65% discount on the total cost of brand-name drugs purchased while in the coverage gap.
This “Donut Hole Discount” consists of a 50% discount from the drug manufacturer as well as an additional 15% from Medicare. The manufacturer discount will still count towards getting you out of the coverage gap, but the additional 15% paid by Medicare will not count towards your TrOOP.
How has Minimum Cost-Sharing Changed?
Minimum cost-sharing, which applies during the “catastrophic coverage portion”, will increase in 2018 to 5% or $3.35 (whichever is higher) for generic or preferred drugs, and 5% or $8.35, once again depending on which is greater, for all other drugs.
How has the Maximum Copay Changed?
When will the new 2018 Medicare Part D plans be available to review?
CMS usually publishes the new plan information sometime between the end of September and beginning of October.
Compare 2018 Medicare Prescription Drug Plans Rates Online
It can be difficult to consider all factors affecting which plan is right for you, so for assistance, call or click the number listed above to get expert advice from our team, or you can compare 2018 Medicare prescription drug plans rates online here!