Stage 4: Catastrophic Coverage
drug coverage, you may pay more for your drugs In this stage, you pay a maxi- mum of 25% of the plan's cost of brand-name drugs. You pay no more than 25% of the cost of generic drugs and the plan pays the rest Any medication-related deduct- ible, discounts you receive on covered brand-name drugs, coinsurance, co-payments and the amounts you pay in the coverage gap count towards the $8,000 limit
After your yearly out-of-pocket costs reach $8,000, the plan will pay all of your Medicare covered Part D drug costs for the rest of the year.
The Four Stages of your 2024 Medicare Part D Plan Based on the 2024 CMS defined standard Medicare Part D Plan
120%
100%
You pay 100% of retail drug cost before meeting $545 Initial Deductible
You pay 25% of retail drug cost before meeting $5,030 Initial Coverage Limit
You pay 25%
You pay approx. 0% of retail drug price after meeting $8,000 out-of-pocket
80%
of generic or brand-name retail drug price after meeting $5,030 Initial Cover- age Limit, and entering the Donut Hole
60%
limit and entering Catastrophic Coverage
40%
20%
0%
2024 Donut Hole Discount: 75% of Brand-name drug cost and 75% of Generic drug cost
Initial Deductible Initial Coverage Phase Coverage Gap or Donut Hole Catastrophic Coverage
*Reference information for the following Prescription Drug Plan section can be found in the following links:
https://q1medicare.com https://q1medicare.com
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