2020 Part D Changes
Medicare Part D Changes Annually
Each year, Medicare changes the benefits provided under Medicare Part D. These changes could impact your annual costs for your Prescription Drug Coverage. Specifically in 2020 here are some key changes for Medicare Part D.
By increasing the Out-Pocket threshold by $1,250, this could have a significant impact (several hundred dollars) on those individuals that previously reached the Catastrophic Coverage level.
All of these Medicare Part D changes in 2020 will have an impact on selecting the right Part D Prescription Plan for 2020.
Prescription Plan Part D Changes Annually
In addition to the Medicare Part D changes, the insurance companies change their Prescription drug plans each year. These changes could impact the formulary (which drugs are covered), deductibles, premiums, etc.
It is imperative to select the right plan EACH YEAR to avoid the type of mistakes which could result in thousands of dollars of unnecessary costs!
There are about 25 Medicare Part D Prescription plan options in each state, and we strongly recommend using the tools on medicare.gov and/or contacting a trusted insurance broker to assist in this process.
A FREE Service offered to our clients…
We feel very strongly about ensuring our clients have the correct Part D Prescription Drug Card and thus, we provide the option for all of our clients to have their Prescription Drug coverage reviewed annually.
Click Here to Find out more about our FREE RX Analysis program.
Dr Anita Raghuwanshi
12/4/2019 10:48:25 am
Please note that the graphic is incorrect. "True Out Of Pocket Costs" includes any deductibles copays paid ABOVE AND BEYOND the insurance company contributions. Which means that Catastrophic does not start till $4020+6350 = $10370. As an endocrinologist, the majority of my diabetic patients reach the coverage gap by May/June each year, as most new diabetic meds range $500-1500 per month.
Dr Anita Raghuwanshi
12/4/2019 12:26:25 pm
12/4/2019 12:28:52 pm
Dr. Anita Raghuwanshi,
12/22/2022 12:31:10 pm
Grrateful for sharing this
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