Medicare Part D
Resources
Are you turning 65 years old and signing up for Medicare? Or maybe you are moving to the area and want to compare plans?
For many, open enrollment can be confusing and frustrating. We have a program available to help guide you through this process.
So, don’t wait — ask one of our staff members for help today.
Changes to Medicare Part D in 2022
Here’s what you need to know about changes that became effective January 1, 2022.
Deductible Increased
Your initial deductible increased by $35 to $480 if you have a plan with the highest possible deductible. After you meet the deductible, you pay 25% of covered costs.
Some plans may offer a $0 deductible for Tier 1 and Tier 2 drugs.
Out-of-Pocket Threshold Jumps to $7,050
Your total out-of-pocket increased by $500 this year which means you may be in the Donut Hole a little longer before your catastrophic coverage kicks in.
Initial Coverage Limits Increased
You can purchase up to $4,430 worth of prescriptions before entering the dreaded Donut Hole gap in your Part D coverage.
When you’re in the Donut Hole, you pay 25% for brand-name or generic drugs.
Catastrophic Copays are $0.65 more.
Your copays during catastrophic coverage increased to $9.85 for brand name drugs, and $3.95 for generic.