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Home / Business / Here's What Medicare Part D Costs and covers in 2019 – The Motley Fool

Here's What Medicare Part D Costs and covers in 2019 – The Motley Fool



Medicare plays an important role for older Americans in managing their health care costs. But the program has grown over time. Initially, traditional Medicare included Parts A and B for hospitals and medical coverage. But recently, Part C Medicare Advantage coverage became available as an alternative, and in the 2000s, Part D prescription drug coverage was available.

It's easy to get confused with all Medicare parts. But it is important to know what each part of Medicare offers. Not all Medicare participants use Part D coverage, but those who do can benefit from knowing the costs and benefits involved.

  The person has blue gloves that hold a pill, with many pills on a glass table.

Image source: Getty Pictures.

Basics of Medicare Part D Coverage

Unlike regular Medicare, Part D coverage comes from private insurance companies. Therefore, it is impossible to provide a specific set of costs that go with Part D because each plan may be different. Particularly, part D plans can cover different types of drugs, and many plans specify categories of drugs that share prescriptions in different groups. A group of drugs may have higher costs for planning participants than others. For example, it is common for Part D to offer incentives for those who accept generic equivalents over brand names.

One good thing about part D plans is that they cannot change coverage in the middle of a year unless there is an unusual situation involved. That means you can usually plan for the whole year. But because plan changes can happen from year to year, be aware of any proposed changes to the plan you have chosen to see if you need to find a replacement for the following year.

Costs for Medicare Part D

The costs of various Medicare Part D plans vary widely. Some do not come with monthly premiums, but you usually only get limited medical coverage with such plans. Other plans have monthly prizes, but you get wider body coverage. Again, the fact that private insurance companies offer part D plans gives great flexibility in designing plans that can accommodate specific groups of customers.

For high income taxpayers who chose part D plans, there may be an additional amount for the normal monthly premium payment amount. The following table shows the amount of these additions.

For persons with this income:

Or common files with this income:

Part D Premium add-on in 2019 is:

$ 85,000 to $ 107,000

$ 170,000 to $ 214,000

$ 12.40

$ 107,000 to $ 133,500

$ 214,000 to $ 267,000

$ 31.90

$ 133,500 to $ 160,000

$ 267,000 to $ 320,000

$ 51.40

$ 160,000 to $ 320,000

$ 320,000 to $ 750,000

$ 70.90

Over $ 500,000

Over $ 750,000

$ 77.40


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