Senior Insurance Agency
Drug coverage (Part D)
Medicare part D prescription plan cost stages for 2023:
Initial Stage: You pay the plans applicable cost share of first $4660 in Rx purchased, your share would be a maximum of $1544 of $4660. (Usually much lower)
Coverage Gap/Donut Hole: You pay 25% of the cost of brand & generic drugs.
Catastrophic Stage: This stage starts when the amount YOU paid in the “Initial Stage”, plus the amount YOU paid in the “gap”, plus the 70% discount YOU received on brand name Rx during the “gap”, totals $7400. For the remainder of the year you pay 5% of the cost of your Rx, if greater than $10.35 for brands and $4.15 for generics. If you reach this stage, you’ll have paid about $2863. (If you purchased brand name only in the gap. The amount you spend will be higher if you purchased more generics in the gap).