Just listened to your podcast and have to correct you on your Medicare Part D info.First, all Medicare Part D plans are privatized - there is no "supplement" coverage. There are several ways to get Rx coverage - stand-alone plans (with premiums), Medicare Advantage plans (where the Rx coverage is built in), or employer/VA/Tri-Care coverage inherited from your job/military.Members & the drug plans pay for the drugs. When the drug costs reach $2,840 combined, the member is responsible for 100% of the costs until he/she has spent $4,550 from day one. That's the donut hole. (Coverage gap.)Once they reach that amount, they then go into catastrophic coverage, where they pay 5% or $5.50 for brand name drugs (generics don't count), whatever is higher.About 10% or 4 million members hit the donut hole in 2010 and got a $250 rebate check. They won't have to pay that back. ha!However, this year and from now on, that donut hole is cut in half, so members will only have to pay 50% of the cost of their drugs in the coverage gap but get credit for 100% - the new ACA law subsidizes the other 50%.Needless to say this is a very popular policy with seniors.
Thanks very much Loretta.
I really look forward to hearing what you have to say. I do moderate comments, but non-spam comments will take less than 24 hours to appear... Thanks!