Part D of Medicare - 2023 Changes and Donut Hole Example

This brief video outlines how Part D of Medicare works including the different phases - Deductible, Initial Coverage Level, Coverage Gap aka Donut Hole, and Catastrophic Coverage. About 85% of people won't reach the Coverage Gap or Catastrophic Coverage, but if you have expensive medications (~15% of people) you will likely reach the Coverage Gap. This video includes a detailed example for those of you that like to 'geek out' on data, like me :-)

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[mikenixon]

Thank you for your research and explainations. I have an advantage plan with my Medicare so I am not burdened with many of the hidden costs like deductables.

[kathleenbirkelbach-uypl]

Thank you
explaining the Framework is helpful
wondering about 2024 any changes i’m helping
my aunt navigate .

[Angelstar]

thanks for the concise explanation, didn’t congress pass the law that medicare recipients only have to pay $2K OOP total per year?

[Nowinspiredtoday]

Really wish broilers would explain this to people before they tell them all there media cations covered

[kimberlylovellette]

Does your $ amount allowed before coverage gap reset every year?

[ronv]

I am trying to use your model to calculate my costs for a very expensive Tier 4 drug (Retail: $2, 093, 45% CoPay). I have replicated your calculations in a spreadsheet I built, but I can't find how these values are derived:
April Pharma Discount $89
April Member Pays $106
November Actual Costs $97

Can you please provide the formulas, or the verbal explanation? Is the spreadsheet available for purchase?


Thank you for any assistance.
Ron V

[joycephelps]

We can’t read the slides. Can you do a screen grab w voice over for part of the vid in the future?

[johnsedarat]

Thanks for trying
But show the illustration FULL SCREEN so we can read it

[soniaivette]

In the hybrid months that you mention are weighted months, how is that calculated? Thank you!

[johnlutz]

THE donut hole is a complete joke. Theres No reason for this deductible, many of us seniors have a hard time with this donut hole. All i can say is its a worthless step.!!!

[bytheSEAsoaps]

I'm sorry call me feeble, but f why is medicare so damn complicated? Does it really need to be so complicated? Single HealthCare now!

[barrysimmons]

Medicare premiums should be tripled. The program will soon be insolvent. Seniors are so greedy