The coverage gap in Medicare Part D

In 2020, the coverage gap in Medicare Part D which required enrollees to pay way too high out-of-pocket costs for your drugs was finally solved. In 2021, you’re in the coverage gap (aka donut hole) only after you’ve spent 4,130 (up from $4,020 in 2020) for covered drugs (75 percent coverage for brand-name and generic drugs, of which insurers cover 5 percent and pharmaceutical companies cover 70 percent. The remaining 25 percent is up to you to pay.

Catastrophic coverage, in which most costs are covered by the government, starts when you’ve spent $6,550 for out-of-pocket costs, $200 more than what you were allowed to spend in 2020. Deductibles paid before reaching your spending limit are included in the annual cap; the 25 percent you’re responsible for once you reach the donut hole and the 70 percent covered by drug manufacturers are also charged from the coverage limit set for that calendar year.

Medicare beneficiaries are offered more free preventive services

The list of Medicare-free preventive services has been extended. Beneficiaries can now enjoy a free “wellness” visit, free cardiovascular screening every five years, annual mammograms, screenings for cervical, prostate and colorectal cancers as well as annual vaccines.

Make sure you also check out these 5 Most Common Healthcare Provider Frauds To Watch Out For!