Medicare Part D Coverage and the Coverage Gap in 2012

When prescription medication becomes vital to your everyday health you do not need the added concern of being able to afford your prescriptions. Medicare has long made this nightmare possible with the Coverage D coverage gap or “donut hole” but this is being shrunk as we speak. The coverage gap is regularly fading as it nears complete removal by 2020.
Your ability to start a massive health savings account might not be what you would like it to be, but you can still save a lot of money. You will pay 86% of the plan’s cost for covered generic drugs when you enter the coverage gap and you will get a 50% discount on covered brand name drugs. It should be noted that the coverage gap won’t apply to everyone who has Medicare Part D.
A slightly higher premium may be possible with some Medicare plans in exchange for getting more of your generic prescription drugs paid for. The administrator of your health care plan should be able to tell you what is possible for you. As was stated before, this coverage gap is definitely on its way out by 2020, but you will have to deal with it a little longer in the meantime.

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