The Medicare Part D plan has a very troublesome lapse in coverage. Being aware of this “donut hole” in coverage, many seniors invest in Arkansas Medicare Supplements, so that they are not faced with unexpected, and possibly devastating, costs in the future.
As explained by MedicareAdvocacy.com, the Medicare Part D program provides beneficiaries with assistance paying for prescription drugs. Unlike coverage in Medicare Parts A and B, Part D coverage is not provided within the traditional Medicare program. Instead, beneficiaries must enroll in a Part D plan offered by a private company.
The “donut hole” in Medicare Part D begins when a person’s annual individual drug expenditures reach a certain amount. At that time, a senior with this plan must pay 100 percent out-of-pocket for drug purchase costs (plus a monthly premium) until the plan’s out-of-pocket limit is reached. Then, the senior will get “catastrophic” coverage that covers 95 percent of the drug cost for the rest of the calendar year. The senior pays the remaining 5 percent. Coverage starts over at the beginning of each new calendar year.
To avoid confronting the Part D “donut hole,” a senior can purchase a Medicare Supplements Plan. An Arkansas Medicare Supplements Plan will eliminate the worry and stress a senior may feel about gaps in coverage in his/her current Medicare arrangement. The cost and terms of Medicare Supplements vary; twelve different plans, ranging from A to L, are available as supplemental Arkansas Medicare insurance Plans. Because there are many different insurance companies offering these plans, many seniors turn to MedicareSupplementsForYou.com to aide them in their search for their ideal plans.
