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Medicare Part D 2014

Medicare Part D Plan Benefits 2014 – Standard


Medicare Part D plans 2014 must cover at least the Part D standard benefit or its actuarial equivalent.

For 2014, the standard benefit requires the beneficiary to pay:sample medicare card

  • $310 deductible
  • 25% of prescription drug costs between $310 and $2,970 = $665
  • Part of the costs in the “Coverage Gap” (also known as the donut hole) – After total spending on drugs by the beneficiary and the plan reaches $2,850 ($2,970 in 2013) the beneficiary pays for 72% of generic drug costs and 47.5% of brand name brand drug costs (undiscounted).

→  Drug manufacturers provide a 50% discount on brand name drug costs.
→  In 2010 a new law was enacted that will eliminate the coverage gap by 2020.  This will be done by reducing the amount beneficiaries pay while                     in the coverage gap by a small percentage each year until 2020 when they will be responsible for only 25% of brand and generic drug costs.

  • Nominal costs under catastrophic coverage: Once the beneficiary expenditures (including drug manufacturer discounts) reach a total of $4,550 ($4,750 in 2013), the beneficiary is through the coverage gap and reaches catastrophic level coverage. On any future prescriptions the beneficiary pays either a co-pay of $2.55 for generic drugs or $6.35 for brand name drugs or a co-insurance of 5%, whichever is greater.

The Medicare Part D benefits must be at least as good as the standard coverage.  Some Part D plans have enhanced coverage for an additional monthly premium.  Some Part D plans will have no deductibles as well.

Medicare Health Plans

    * Not connected with or endorsed by the United States government or the federal Medicare program.  DBR Insurance, LLC, dba Medicare Health Plans.  7600 W. 110th St., Ste. 208, Overland Park, KS 66210.  By clicking on ‘Get Quote!’, you consent to receive phone calls from a licensed insurance representative regarding Medicare Supplement, Medicare Advantage, & Medicare prescription drug plans even if you are on the Do Not Call Registry. You also agree that we may contact you with a pre-recorded message to verify your interest.
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