The "doughnut hole" is the period in prescription drug coverage for people on the medicare drug prescription insurance plan, between $2250 and $3600. For premiums which vary from $21 to 58.36 per month one's drug cost per 30day prescription for one pill/day costs $7.00 copay for generic drugs in the first tier, drugs in the second tier cost $35.00, etc. There are hundreds of differentschemes and plans in a complete ridiculous mis-mash. Here is my plan as an example.
I pay $58.36 per month, premiums. 1st tier generics cost me a $2.00 copay, 2nd tier drugs cost me $20.00 copay, and 3rd tier cost $40.00 I am covered up to the point where the total reaches $2250. Now the 'doughnut hole - there is no coverage until I have paid a total of $3600, after which my copays are $2.00 for preferred generics, $40 copay for non-preferred generics. The drug company decides the price and can change it at will, the insurance company decides what is covered and what is "preferred". Since I am over 65 my wife and I pay a total of over $6000/year for medical insurance coverage - not counting the cost of the medicine or the fact that I am covered by the Veterans administration. Now don't you wish you lived here??? Aren't we clever?
It gets worse, Viv. Frank has the 'advantage' of having the plan for our retirees, which is better than what is available to most people, many of whom can't afford any coverage at all.
Posts: 17502 | Location: Lincoln Place, Granite City, IL, USA | Registered: 06-03-02
