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donut hole Archives - Steinlage Insurance Agency

How to get the most out of your Part D benefits

By | Making the Most of your Medicare | No Comments

All Medicare Part D plans have the “coverage gap” or “donut hole” in them.  This is a set amount of money ($2,970 for 2012) available for rx costs until you reach the beginning of the “gap.”  To maximize this amount, you would like to get as close as possible to the $2,970 without going over. (It’s important to note that the $2,970 is the total cost of the drug, not what you have paid.  For example, if your co pay is $10 at the pharmacy but the total cost is $100, $100 counts towards your $2,970 not just the $10 you paid!) So how do you do this? IF YOU ARE CLOSE TO THE DONUT HOLE The best way to maximize your drug costs would be to call you current Part D carrier (use the member services number on the back of the ID card) and get to a representative.  You…

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