Medicare Part D Changes
President Donald Trump is proposing Medicare Part D changes for the 60 million seniors and disabled people enrolled in Medicare. The new budget plan will tackle major issues ranging from the Donut Hole to Insurance Rebates. These Medicare Supplement Reno Part D changes have not been officially released yet. The new budget will potentially go into effect by 2019. An anonymous administration official unofficially confirmed some of the proposed changes in the new Budget plan. The Budget plan will release sometime in the next week or so. This issue should not affect Medicare Advantage Reno plans since those plans usually have their own drug benefits in place.
Part D Rebates
President Donald Trump wants Medicare beneficiaries to have a ‘slice of the pie’ with annual rebates from drug companies. Currently, the Insurance Companies and Pharmacy Benefit Managers are keeping the rebates each year instead of distributing them to insureds. The potential Medicare Part D changes will allow consumers to receive these rebates instead of insurance companies and other middlemen. This change will help offset the high premiums and out of pocket expenses associated with Part D prescription drug plans.
Part D Donut Hole
Trump’s budget is also targeting the Part D ‘Donut Hole’ in hopes of removing it a year earlier than expected. Currently, the Part D Donut Hole ends in 2020. Trump is proposing to eliminate it next year in 2019. These Medicare Part D changes will also alter the out of pocket costs in the ‘catastrophic’ phase of Part D prescription drug plans.
While we keep an eye on the potential Medicare Nevada Part D changes, it is always a good idea to consult a licensed professional about your coverage options. Our licensed brokers are here to help you understand the market, at no cost to you. Give us a call today if you want to learn more about Medicare or find lower costing health insurance plans for you and your family.