As many seniors turning or already 65 may know, the Affordable Care Act is closing the Medicare Part D donut-hole by 2020. Each year the hole gets smaller and smaller. We have your cost-sharing for 2014. This is for Medicare Part D.
2014 Medicare Part D Donut Hole Cost
For the coming year, seniors who hit the donut hole will pay:
- 47.5% for brand name drugs
- 72% for generic drugs
Remember even though you are paying less than 50% of the cost of brand name drugs the ENTIRE amount is put toward pushing you to the other side of the donut hole.
What is the Donut Hole?
The term refers to a hole in Medicare Part D coverage, and, like a donut hole, there is a lot covered then there is a hole of (a lot) less coverage. The ACA has set out to repair this hole.
Donut Hole 2014 Figures
The first half of the donut hole in 2014 is $2,850. Then you will pay the percentage listed above until you meet $4,550 . After that you only pay 5% of your costs for the rest of year.
To enroll in a Medicare Part D prescription drug plan call the number above or contact Senior65.