Medicare Part D Plan Savings
If you are in the Medicare Part D coverage gap, then you'll see improved benefits to help pay for your prescription medication.
You'll receive an automatic 50 percent price discount on brand-name prescription drugs and a 7 percent discount on generic medication.
Who qualifies to receive the discounts?
You will be eligible if you are enrolled in a Medicare prescription drug plan or a Medicare Advantage plan that includes prescription drugs. You'll receive the discounts on the drugs covered by your plan once you are in the coverage gap.
What are my obligations?
You will still need to pay your premiums and 25 percent of your brand-name and generic costs from the time you meet your deducible (if your plan has one) until you reach catastrophic coverage. If your costs exceed the catastrophic coverage level, then you'll be responsible for 5 percent of your prescription drug costs for the rest of the year.
Do brand-name drugs receive the 50 percent discount if you are in the coverage gap?
You'll automatically receive a 50 percent price discount on your brand-name prescriptions when you buy them. The price you will pay will vary based on your pharmacy negotiated with your Medicate Part D plan.
You will still need to pay any pharmacy (also known as dispensing feed) costs to fill a prescription. These fees are not included in your discount and are added to the amount you pay for your brand-name prescriptions.
You pay 50 percent of the cost on a brand-name drug, but the full price will count toward the amount you need to qualify for catastrophic coverage. The full price includes any costs you pay in dispensing fees.
I am in the coverage gap. Do I receive the 7 percent discount on my generic medication?
The coverage for generic medication under the Medicate Part D coverage plan is different from the 50 percent price discount for brand-name medication.
You'll automatically get a 7 percent price discount on your generic medication when you buy them. Only the amount you pay will count toward escaping the coverage gap.
The dispensing fee is included as part of the drug cost, but several Medicate Part D plans pay for generic coverage in the gap. Check the details of your plan.
You could receive discounts on drugs covered in your plan when you are in the coverage gap if you are enrolled in a Medicare prescription drug plan or a Medicare Advantage plan that includes prescription medication.
See your neighborhood Walgreens pharmacy professional with any questions on Medicare Part D.