In 2025, I'll be 65 and starting Medicare.
Today I read about the "donut hole" for drug costs here on the forum.
I found this on the Internet:
Thanks to the Inflation Reduction Act, in 2025 annual out-of-pocket costs will be capped at $2,000 for people with Medicare Part D. Apr 1, 2024 (cms.gov)
I would like to understand a ballpark estimate for my total prescription costs for 2025, assuming I will hit the maximum expenses. (I take many drugs every day, including two types of insulin.)
NOTE: I understand I will have separate costs for my Medicare premium as well as a supplement/Medigap. For the purposes of this thread, please help me understand what to budget for total cost for drugs only (Medicare Part D premium, co-pays, Part D private coverage premiums)
When it says that my annual out-of-pocket costs will be capped at $2,000, what does the $2,000 include:
Private insurance premium for drugs?
Medicare premium for part D?
Co-pays for part D?
(We sure don't make it easy for old folks, do we? I currently pay extremely high insurance premiums for a platinum PPO, but at least I can understand it easily.)
Today I read about the "donut hole" for drug costs here on the forum.
I found this on the Internet:
Thanks to the Inflation Reduction Act, in 2025 annual out-of-pocket costs will be capped at $2,000 for people with Medicare Part D. Apr 1, 2024 (cms.gov)
I would like to understand a ballpark estimate for my total prescription costs for 2025, assuming I will hit the maximum expenses. (I take many drugs every day, including two types of insulin.)
NOTE: I understand I will have separate costs for my Medicare premium as well as a supplement/Medigap. For the purposes of this thread, please help me understand what to budget for total cost for drugs only (Medicare Part D premium, co-pays, Part D private coverage premiums)
When it says that my annual out-of-pocket costs will be capped at $2,000, what does the $2,000 include:
Private insurance premium for drugs?
Medicare premium for part D?
Co-pays for part D?
(We sure don't make it easy for old folks, do we? I currently pay extremely high insurance premiums for a platinum PPO, but at least I can understand it easily.)
Statistics: Posted by LilyFleur — Tue May 21, 2024 2:01 pm — Replies 3 — Views 158