Part D is prescription drug coverage to supplement the coverage of Medicare Part A and Part B. It can be a standalone policy, or it can be included in a package with Part C.
Medicare Part D is purchased through private insurers. While the premiums vary, they tend to range from $15- $150 a month. There was a maximum deductible of $360 for these plans in 2016, after which the insurer would trigger 75/25 coinsurance or something in that range.
During that time the policy will pay 75% of prescription costs but will stop at the point where the company and you have cumulatively paid $3,310 (also as of 2016). If your prescription drug costs exceed that amount, you pay every single penny between $3,310 and the catastrophic trigger point, which is currently $4,850. If your costs exceed even the $4,850 boundary, you’ll only have to pay about pay 5% of the costs after that threshold, and the insurer pays the rest.
A person will need to determine their expected prescription costs and weigh them against the possible help they could get from a Part D plan.
Should I buy a Medigap policy?
What is Medicare Part A?
What is Medicare Part B?
What is Medicare Part C?
The idea with Alternative fund investing is to gain exposure to assets which are not highly correlated with the rest...
Stock prices change based on the law of supply and demand. Ultimately, as with the price of any good or service, the...
A 457 is only slightly different than a 401(k), but the differences can be important
Most long-term care insurance policies are designed to mitigate the cost of long-term assisted living care, not to...
The risk-free rate of return is the rate an investor can get on a risk-free asset at a given time
Blockchain technology is a decentralized network structure used to obtain consensus on changes to a shared ledger
A mortgage is a debt instrument typically used as a finance mechanism to purchase real estate
Market exposure is the degree to which an investor is participating in the risks and returns of the market as a whole
Currencies are exchanged for each other on a massive scale on the international Forex market. Millions engage in trading
An options contract starts when the option is exercised, meaning that the option or buy or sell the security is utilized