Medicare is a complex system with many working parts. Wholesome Health Pharmacy in Hoffman Estates, Illinois believes in helping customers get the best prescription insurance plan based on their needs. That is not always Medicare D, though, which is why the staff at Wholesome Health Pharmacy undergo specialized training to help patients make the right decision. They have the knowledge it takes to understand how opting for this program might affect a patient, so call the facility today.
Introduced in 2003, Part D is Medicare’s answer to managing prescription drug costs, but like most things involved with this benefit, it’s complicated. Part D participants pay out of pocket the first $325 for prescriptions. If a drug’s retail cost is $50, that’s what the customer pays until they all equal $325 per year.
Once you meet the deductible, Medicare pays for prescriptions under the Part D plan until the costs total $2,970 combined. That’s when the donut hole kicks in for customers.
The Medicare donut hole is that gap between $2,970 and $4,750 in prescription drug costs. While in the gap, patients must pay a more significant portion of their drug bill until they reach $4,750 in out of pocket costs. At that point, Medicare takes over again and starts paying the full amount.
Working with Medicare Part D is complicated and not right for everyone. For one thing, some patients never meet that initial $325 burden, so they end up always paying for their prescriptions under Part D. In that case, a different Medicare plan and a supplemental policy are better.
For others, they fall into the donut hole and end up paying more for most of their prescriptions. In that case, Part D may not be the best choice, either.
However, some Wholesome Health Pharmacy patients reach that $2,970 point quickly and will eventually hit $4,750 in out of pocket costs. In that case, they do better with Part D, especially if they take name-brand drugs.
While in the donut hole, manufacturers cut the cost of name-brand drugs in half, but Medicare credits the full amount to the patient to help them reach that $4,750 ceiling faster.
Navigating Part D is tricky without help from an expert in the field. That’s why customers take advantage of the knowledgeable staff at Wholesome Health Pharmacy. They're trained to look at the prescription needs of each patient and help them save money on prescription costs with or without Part D.
If you need help figuring out whether Part D is right for you, call Wholesome Health Pharmacy today.