Investment Center
Articles: Closing the Donut Hole
Do you or another family member fall into the Medicare “donut hole”? If an individual’s prescription drug expenses under Medicare Part D exceed an annual threshold of $2,830, he or she must pay 100% of any expenses until reaching another threshold of $4,550. Then, Medicare picks up 95% of the cost, while the individual pays the remaining 5%.
Saving grace: The donut hole begins to close in 2011. Anyone reaching the donut hole this year is entitled to a 50% discount on brand name drugs and a 7% discount on generic medications.
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