Ask Terry Questions MEDICARE PLAN D

MEDICARE PLAN D

By Terry Savage on August 21, 2022 | Insurance & Annuities

WHEN WILL THE MAXIMUM $2000 PAY OUT FOR PRESCRIPTIONS OCCUR AND I PAY $1131.60 ANNUALLY FOR MY PLAN D PREMIUMS WITH U.H.C. WILL THEN PREMIUMS GO LOWER IN PRICE OR ARE THE INSURANCE COMPANIES SCRAMBLING TO FIGURE OUT NEW WAYS TO GOUGE US?AMERICANS WILL FIGURE WHY THE SHOULD PAY FOR THE BEST PLAN D WHEN THE BENEFITS ARE THE SAME

Terry Says

Well, the headline is that the new limitation won’t start until 2025! So the insurers will have plenty of time to figure out how they will handle the new law. The one change for 2024, is that there will be NO copay, once you hit the catastrophic level (vs. the current 5% copay).

For sure, I will be writing about this in October when the 2023 plans must be filed, allowing you to compare prices and coverages at Medicare.gov. But there likely won’t be significant changes this fall.

Here’s a great article explaining how Part D will be impacted, from AARP:
https://www.aarp.org/politics-society/advocacy/info-2022/medicare-part-d-changes.html

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