We get it, Understanding Part D prescription drug coverage can get confusing. Especially since deductible amounts and coverage limits can vary year to year. Luckily for you, Medicare advocates can fill you in on all the changes coming to 2020 and beyond.
To understand the changes coming in 2020, let’s take a step back and look at what happened in prior years. According to Q1Medicare.com, from 2016 to 2019 Part D deductibles have risen sporadically, ranging from a $40 increase from 2016 – 2017, to a $5 increase from 2017 – 2018. Our friends at Q1Medicare.com have put together an amazing Part D chart that you can see for your self by clicking here.
So that you can get a better understanding of the changes to 2020 from 2019, we have provided a short preview from Q1Medicare.com
- Initial Deductible:
will be increased by $20 to $435 in 2020.
- Initial Coverage Limit (ICL):
will increase from $3,820 in 2019 to $4,020 in 2020.
- Out-of-Pocket Threshold (or TrOOP):
will increase from $5,100 in 2019 to $6,350 in 2020.
If you would like to learn more about these changes, including the new “Donut Hole Discount,” please click here.
Have questions? Contact us today!