What is the “Doughnut hole” in Part D Medicare coverage, and how does it work?
The donut hole no longer exists in Medicare Part D as of 2025. Previously, beneficiaries would enter a coverage gap after reaching a certain spending limit on prescriptions. In that phase, they paid a larger share of drug costs until reaching catastrophic coverage. Starting in 2025, a new out-of-pocket cap replaced the old donut hole […]
What if I need a drug that isn’t on the Medicare Formulary or costs too much?
If your physician determines that you need a drug that is not on a Part D plans formulary, they can ask the insurance company for an exception. However, there are rarely drugs that are not on the formulary that an insurance plan will grant an exception for. In most cases, these are experimental drugs that […]