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PART
D
COSTS COMPARED IN CHART FORM---2008/2007/2006
Updated
December 14, 2007
We hope these
are easier to understand than the bizarre charts on some other
sites. Some sites are sponsored by the insurance
industry, and we believe that its information is designed to
obscure
your true costs
under Part "D".
These charts
assume that your plan follows the standard Medicare Part "D"
Model. |
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Important Note:
Part D
monthly premiums range from approximately
$0 to over
$165.70. Coverage will vary based on the premium charged. You need to carefully review the details of each company
offering coverage in your state. Go to
Medicare tips,
and click on your state to see which premium and plan is
best for your situation and medications. The charts
below show the basic guidelines.
Extra-Help
programs are available based on financial need.
Check at this
website. Your drugs
may cost as little as NOTHING. |
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This is how
Part D looks
in Chart Form :
2008
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AMOUNT & ITEM
|
WHAT YOU PAY |
WHAT MEDICARE PAYS |
|
$420 PREMIUMS (varies) |
$420 |
$0 |
|
$275 DEDUCTIBLE |
$275 |
$0 |
|
(25% / 75%) NEXT $2,235 |
$558.75 |
$1,676.25 |
|
$3216.25 "DOUGHNUT HOLE"
|
$3,216.25 |
$0 |
|
TOTAL |
$4,470 |
$1,676.25 |
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SO UNTIL $6,146.25 IS SPENT,
YOUR COST IS $4,470 ($4,050 if not counting premiums) |
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AFTER
THAT YOU PAY $2.25 FOR EACH GENERIC, OR $5.60 FOR EACH
BRAND NAME, OR 5% OF THE
TOTAL OF EACH PRESCRIPTION, WHICHEVER IS THE HIGHER
NUMBER. EXAMPLE: A $200 DRUG COSTS YOU $11.20. THIS
SO-CALLED "CATASTROPHIC COVERAGE" CONTINUES ONLY UNTIL
DECEMBER 31, 2008 |
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ON 1/1/09 IT ALL BEGINS
OVER AGAIN, WITH HIGHER PREMIUMS AND DEDUCTIBLE, AND A
LARGER DOUGHNUT HOLE.
Remember, if you have been in Part D for less than a full
year in 2007, being in for a full 12 months in 2008 may
mean that the doughnut hole takes on a greater
significance for you. |
|
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This is how
Part D looked
in Chart Form :
2007
|
|
AMOUNT
& ITEM |
WHAT YOU
PAY |
WHAT
MEDICARE PAYS |
|
$420 PREMIUMS (varies) |
$420 |
$0 |
|
$265 DEDUCTIBLE |
$265 |
$0 |
|
(25% / 75%) NEXT
$2,135 |
$533.75 |
$1,601.25 |
|
$3,051.25 "DOUGHNUT HOLE"
|
$3,051.25 |
$0 |
|
TOTAL |
$4,270 |
$1,601.25 |
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SO UNTIL $5,871.25 IS SPENT,
YOUR COST IS $4,270.00 ($3,850 if not counting premiums) |
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AFTER THAT YOU PAY $2.15 FOR
EACH GENERIC, OR $5.35 FOR EACH BRAND NAME, OR 5% OF THE
TOTAL OF EACH PRESCRIPTION, WHICHEVER IS THE HIGHER
NUMBER. EXAMPLE: A $200 DRUG COSTS YOU $10.00. THIS 5%
ARRANGEMENT CONTINUES ONLY UNTIL DECEMBER 31, 2007 |
|
ON 1/1/08 IT ALL BEGINS
OVER AGAIN, WITH HIGHER PREMIUMS AND DEDUCTIBLE, AND A
LARGER DOUGHNUT HOLE.
Remember, if you have been in Part D for less than a full
year in 2006, being in for a full 12 months in 2007 may
mean that the doughnut hole takes on a greater
significance for you. |
|
|
This
is how Part D
looked in Chart Form :
2006
|
AMOUNT
& ITEM |
WHAT YOU
PAY |
WHAT
MEDICARE PAYS |
|
$420 PREMIUMS (varies) |
$420 |
$0 |
|
$250 DEDUCTIBLE |
$250 |
$0 |
|
(25% / 75%) NEXT $2,000 |
$500 |
$1,500 |
|
$2850 "DOUGHNUT HOLE"
|
$2,850 |
$0 |
|
TOTAL |
$4,020 |
$1,500 |
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SO UNTIL $5,520 IS SPENT,
YOUR COST IS $4,020 ($3,600 if not counting premiums) |
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AFTER THAT YOU PAY $2 FOR
EACH GENERIC, OR $5 FOR EACH BRAND NAME, OR 5% OF THE
TOTAL OF EACH PRESCRIPTION, WHICHEVER IS THE HIGHER
NUMBER. EXAMPLE: A $200 DRUG COSTS YOU $10. THIS 5%
ARRANGEMENT CONTINUES ONLY UNTIL DECEMBER 31, 2006 |
|
ON 1/1/07 IT ALL BEGINS
OVER AGAIN, WITH HIGHER PREMIUMS AND DEDUCTIBLE, AND A
LARGER DOUGHNUT HOLE.
Remember, if you have been in Part D for less than a full
year in 2006, being in for a full 12 months in 2007 may
mean that the doughnut hole takes on a greater
significance for you. |
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 Produced by
SeniorARK.com |
Also see:
Part D Fiasco - Congress Can Do Better, Coming 2007 Part D Shock, Part
D In Chart Form,
All about Part D and Medicare,
Survive a Fall into the Doughnut Hole
Medicare Twilight Zone
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