2017 Medicare & You Handbook

DOES NOT… Include

 Part D Deductibles and Co Pays!!     

 

Toni:

            Just received my new 2017 Medicare and You handbook and I cannot find what the 2017 Part D deductibles and “Donut Hole” costs are.  I need help because I got in the “Donut Hole” in September of this year.  Look forward to what you have to say.  Karen, Sugar Land, TX

 

Hello Karen:

            You are correct that the 2017 Medicare and You handbook does not have the current Part D deductibles or out of pocket maximums.  On page 90 of the handbook it states under the Important tab to look for specific Medicare drug plan costs in Section 12 and call the plans that you are interested in.

            But guess what??  I know what the 2017 Medicare Part D cost will be and they are explained below:

Part D changes for 2017 are:

  • Initial Deductible:
    will be increased by $40 from $360 in 2016 to $400 in 2017.
  • Initial Coverage Limit:
    will increase from $3,310 in 2016 to $3,700 in 2017(when the famous “Donut Hole” begins)
  • Out-of-Pocket Cost:
    will increase from $4,850 in 2016 to $4,950 in 2017

Donut Hole (coverage gap): 
begins once you reach your Medicare Part D plan’s initial coverage limit ($3,700 in 2017) and ends when you spend a total of $4,950 in 2017. You will spend 40% of covered brand name drugs and the drug manufacturer will pay the remainder 50%. The prescription drug plan will pay the left over 10% of the covered brand name prescription. For generics, you will pay maximum 51% co pay and the prescription drug plan will pay the remaining 49%.

  • If your prescriptions are not in your Part D formulary, then YOU WILL pay 100% of the prescription drug cost.
  • Many 2017 standalone Part D plans now have a deductible ranging from $0 to $400.

      Toni’s Tips to help you stay out of the Donut Hole or not get in it as soon!

  • Use medicare.gov when selecting a Medicare Part D plan whether it is your first time or changing during Medicare’s Annual Enrollment Period in the fall.
  • Talk to your doctor or doctors about which brand name drugs can be changed to generics.
  • Get samples for both brand name and generics from your doctor. 
  • See what generics are in a $4 or $5 generic prescription drug programs at HEB, Wal-Mart, and Kroger etc…  Pay for the genericsout of your pocket.  To get their discounted price you only need a prescription from your doctor.
  • Use your Medicare Part D plan for your brand name drugs and expensive generics. You do not have to put every prescription on your Medicare Part D plan.
  • Visit tonisays.com and sign up for Toni’s newsletter and receive a free copy of

       Toni’s 2017 Medicare Prescription Drug Survival Guide e-book version.

Toni King, author of the new Medicare Survival Guide® and its new companion “Confused about Medicare” workshop DVD that are now on sale at www.tonisays.com.  Medicare consultations are available at the Toni Says office or email questions to info@tonisays.com or call 832/519-TONI (8664).

 

 

 

 

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