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The Doughnut Hole for 2014 comes with some unrevealed parts that most seniors, and most agents for that matter, do not know about.
Most seniors believe that they enter the doughnut hole when their costs (senior's cost) reach that magic number. That is not the case.
The doughnut whole is triggered when the senior's cost + the health plan's cost for that drug, both combine to reach the trigger dollar amount, which for 2014 is $2,850. When that amount is reached by the combination of co-payments and the health insurance company's costs, the senior enters the doughnut hole and their costs soar.
Avoiding that doughbut hole, at all costs, is imperative and there is a solution you might not have considered.
Medicare drug costs to fall in 2014, but donut hole widens
Costs in the Doughnut hole:
Triggers the doughnut hole ($120 less than last year)
In the doughnut hole, seniors pay:
47.5% name brand
79% cost for generics
$4,700 = Catastrophic Coverage = co-payments then start again.