Filling the need for trusted information on national health issues
Filling the need for trusted information on national health issues
Yes, the law included changes that could save you money if you have very high prescription drug costs. If you are enrolled in a Medicare Part D plan and you have very high drug costs, the law helped to reduce the costs you pay when you reach a gap in coverage that is sometimes referred to as the “doughnut hole.” If your total drug costs are more than $4,430 in 2022, after that point you will pay 25% of the cost of your brand-name and generic drugs. After your out-of-pocket costs exceed $7,050 (in 2022) your share of drug costs is 5% for the rest of the year.
The law also included a requirement that people on Medicare with higher incomes pay a higher premium for Part D coverage. These higher premiums are paid by single beneficiaries enrolled in Part D plans with incomes greater than $88,000 and married couples with incomes greater than $176,000.