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![](https://q1medicare.com/pics/ContentPics/Medicare_Prescription_Payment_Plan.jpg)
Jul, 26 2024 — Starting January, 1, 2025, the Inflation Reduction Act (IRA) limits a Medicare drug plan member's out-of-pocket spending for formulary drug Medicare Part D drugs to $2,000. Once the plan member . . .
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Jul, 20 2024 — How 2024 Medicare Part D drug coverage is changing and helping Medicare beneficiaries save on prescription costs.
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Jul, 20 2024 — Your monthly Medicare Part D premium can be broken into two parts: the Basic and Supplemental premiums - and Medicare provides the technical definitions of Total Premium, Basic Premium, and Supplement . . .
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Jul, 20 2024 — It depends on the Part D plan you choose. If your Medicare Part D prescription drug plan has a monthly premium below (or close to) your state's Low-Income Subsidy (LIS) Benchmark premium, and it does not have supplemental Part D coverage, then your Medicare Part D plan premium w
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Jul, 20 2024 — Yes. You may be able to use a drug discount card to buy prescriptions even if you are enrolled in a Medicare Advantage plan.
However, you will need to read the discount card's "fine print" as . . .
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Jul, 20 2024 — Medicare Part D plans are categorized as defined standard (DS), actuarially equivalent (AE) standard, or basic alternative (BA) - and benefits are actuarially equivalent to the CMS defined standard Part D benefit. Enhanced alternative (EA) plans exceed defined standard coverage.
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Jul, 20 2024 — There are a few reasons why you are still paying a monthly Medicare Part D plan premium
even though you are qualified for both Medicaid and Medicare or just qualified for Medicare Part D Extra Help b . . .
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Jul, 20 2024 — Not always. If you are "Dual Eligible", qualifying for
both Medicare and Medicaid, you will automatically qualify for the Medicare Part
D Low-Income Subsidy (LIS) or Extra Help program.
If . . .
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Jul, 20 2024 — Coinsurance is a type of cost-sharing used by Medicare Part D prescription drug plans or Medicare Advantage plans referring to a Medicare plan member paying a percentage of the medication's negotiated . . .
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Jul, 20 2024 — The Medicare Part D Extra Help or Low-Income Subsidy (LIS) program helps people with limited financial resources pay for their Medicare Part D prescription drug coverage.
If you receive Medicare Pa . . .
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Jul, 19 2024 — Yes. You will find that the negotiated retail
drug price for each medication may differ between every Medicare Part D plan (PDP) or Medicare Advantage plan that includes prescription drug cove . . .
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Jul, 19 2024 — Not exactly. You need to look beyond just the monthly premium cost - especially if you use more than just low-cost generics. In most cases, the "best" Medicare Part D prescription drug or . . .
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Jul, 19 2024 — Q1Rx shows the average retail drug price across all of a plan's network pharmacies (preferred and standard) within a specific Service Area (zip code, state, or multi-state area) - however, actual retail drug prices can vary pharmacy-to-pharmacy and change almost weekly.
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![](https://q1medicare.com/pics/ContentPics/MedicarePartDPhasesOfCoverage.jpg)
Jul, 19 2024 — The Donut Hole or Coverage Gap is the third part or phase of your Medicare Part D prescription drug coverage where you will pay 25% of the retail price for any prescriptions found on your plan's formu . . .
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Jul, 19 2024 — Yes, but, it depends on when the formulary change is made and if you are affected by the change. Your Medicare drug coverage can change year-to-year and can change during the plan year - and you . . .
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Jul, 19 2024 — No. Medicare Advantage plans are not the same as Medicare Supplements or Medigap policies. And here are a few key differences between the plans:
Medigap policy design
Medica . . .
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Jul, 19 2024 — Probably not. In some situations, you have the right to ask your Medicare Part D prescription drug plan to move a higher-costing drug to a lower-costing formulary tier. However, usually such a "tiering exception" is not available for plans with only one Specialty Drug
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Jul, 19 2024 — Medicare Part D prescription drug plans can change their plan formulary or drug list throughout the plan year - and you may find that new Part D drugs are added - or dropped - or formulary drugs may h . . .
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Jul, 19 2024 — Yes. You can use your Medicare Part D prescription drug plan at any one of your plan’s network pharmacies across the country, and most Medicare prescription drug plans include 50,000 to 65 . . .
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Jul, 19 2024 — You do not pay
anything more for your Medicare Part A and Medicare Part B covered services for the remainder of the year.
Your Medicare Advantage plan’s MOOP or Maximum Out-of-Pocket
limit . . .