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More 2013 Medicare Part D Plans Will Be Offering Donut Hole Coverage

Category: Annual Medicare Plan Changes
Published: Oct, 03 2012 07:10:29
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Seniors will find a few more 2013 stand-alone Medicare Part D plans offering some form of Donut Hole or gap coverage.  None of the 2013 Medicare Part D plan offers complete brand-name Donut Hole coverage (which is no real surprise), but there are a variety of different coverage options available in the Donut Hole: Some Generics, Many Generics, Some Generics and Some Brands, Many Generics and Some Brands.

2013_Medicare_PartD_Donut_Hole_Options.JPG

In fact, across the country approximately 33% of all 2013 Medicare Part D plans are offering some form of drug coverage in the Donut Hole.  For example, in Florida around 37% of all Part D plans will offer some form of Donut Hole coverage or 13 out of the 35 2013 Part D plans. (As a note, the 2013 Coverage Gap or Donut Hole begins after your total annual retail drug purchases exceed $2,970 as compared to $2,930 in 2012 (click here to read more on the 2013 Medicare Part D plan limits).

The Cost of Donut Hole Coverage: In past years, the average monthly premiums for a Medicare Part D prescription drug plan with Donut Hole coverage were usually higher than the cost of a plan without Donut Hole coverage.  However, in 2013 the average premium for a Medicare Part D plan with Donut Hole coverage actually decreased.  For example, the monthly premium for a 2013 prescription drug plan with some form of Donut Hole coverage in Hawaii is $39, down from $54.50 a month in 2012.  Seniors in Alaska will also pay a monthly premium of $39 for a plan with Donut Hole coverage, down significantly from a premium of $74 in 2012.

But, look before you leap.  As in past years, before you decide to join a 2013 Medicare Part D plan that offers Donut Hole coverage, look at the increased monthly premium and make sure that the extra monthly cost covers the retail price of your medications when considering the 2013 Donut Hole Discount (52.5% discount on brand-name drugs and 21% discount on Generic prescriptions).




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