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"Because of the prescription drug law, the coverage gap ends on Dec. 31, 2024," its website states. The so-called "donut hole," or coverage gap, has affected almost all prescription plans.
Major changes in 2025 include Medicare Advantage plans and a new $2,000 out-of-pocket max under Part D, eliminating "donut hole" coverage gap.
Since the donut hole is going away due to the new $2,000 out-of-pocket cap, the Coverage Gap Discount Program is no longer needed. It will be replaced starting in 2025 by the Manufacturer Discount ...
Now, the coverage gap is gone. Last year consumers' out-of-pocket costs were capped at about $3,300 per year . As of Jan. 1, the cap dropped to $2,000 per year.
The Medicare Part D coverage gap (informally known as the Medicare donut hole) was a period of consumer payments for prescription medication costs that lay between the initial coverage limit and the catastrophic coverage threshold when the consumer was a member of a Medicare Part D prescription-drug program administered by the United States federal government.
Image source: Getty Images. 1. Explore your options for a new Medicare Advantage plan. When you're used to a specific Medicare Advantage plan, switching to a new one can seem like a hassle.
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