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Yet it’s vitally important for Medicare beneficiaries to keep their prescription costs down. At a time when U.S. drug prices are roughly twice as high as in comparable countries, and 42% of ...
When a person is in the coverage gap, they pay no more than 25% of the cost of brand-name prescription drugs, but the full price of the drug will count toward out-of-pocket costs. Extra Help
"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.
In 2012, the plan required Medicare beneficiaries whose total drug costs reach $2,930 to pay 100% of prescription costs until $4,700 is spent out of pocket. (The actual threshold amounts change year-to-year and plan-by-plan, and many plans offered limited coverage during this phase.)
Covered drugs are arranged by cost in tiers or levels. Generics are in the lowest tiers and are generally the lowest cost. Coverage and drug lists vary from plan to plan.
Prescription drug list prices in the United States continually are among the highest in the world. [1] [2] The high cost of prescription drugs became a major topic of discussion in the 21st century, leading up to the American health care reform debate of 2009, and received renewed attention in 2015.
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