You have probably heard of the "donut hole" in the Medicare Prescription Drug plan. This is simply a coverage gap that exists after you and your drug plan have payed a certain amount for your drugs. Once you reach this amount you are responsible for the rest of the costs until you reach your yearly limit.
For 2011 you will get a discount of 50% on covered brand name drugs if you reach the donut hole. Part D is structured so that each year through 2020 you will pay less and less until the donut hole is eliminated altogether!
Some plans may offer limited coverage while you are in the "donut hole" but you will probably pay a higher premium for these plans. It is important to understand exactly what your plan covers before signing up. Most plans have their forumulary online that can tell you if your drug is covered and to what extent.
For 2011 you will get a discount of 50% on covered brand name drugs if you reach the donut hole. Part D is structured so that each year through 2020 you will pay less and less until the donut hole is eliminated altogether!
Some plans may offer limited coverage while you are in the "donut hole" but you will probably pay a higher premium for these plans. It is important to understand exactly what your plan covers before signing up. Most plans have their forumulary online that can tell you if your drug is covered and to what extent.