Etini Willie
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I have made posts on the various stages of Medicare part D. Now, I would address the last stage of Medicare part D. It is called the Catastrophic coverage. I personally believe that this is the single most important reason why a Medicare holder should take a part D coverage. There is what Medicare calls a catastrophe limit. This is a stage where the amount spent on drugs is very huge. This plan seeks to protect the holder from over-the-roof spending on drugs. The catastrophe limit set by Medicare is $5100. When the cost of drugs get to this level, the Medicare part D holder is obliged to pay for just 5% of that cost. The insurance company is obliged to pay the remainder.
For instance, if you are using a drug that costs $6000, and you have a Medicare part d plan, you only need to pay $300 which is just 5% of the cost of the drugs. The rest of the cost would be borne by the insurance company.
Overall, I think it is a wise decision to get a Medicare part 4 plan. It helps to minimize expenditure on drugs. The plans are not that expensive to maintain.
For instance, if you are using a drug that costs $6000, and you have a Medicare part d plan, you only need to pay $300 which is just 5% of the cost of the drugs. The rest of the cost would be borne by the insurance company.
Overall, I think it is a wise decision to get a Medicare part 4 plan. It helps to minimize expenditure on drugs. The plans are not that expensive to maintain.
