New Medicare drug coverage plan is inexpensive and offered nationwide

The Medicare “doughnut hole” is not something to have with your morning coffee.

The term refers to the coverage gap in some drug plans offered as part of Medicare Part D. Basically, Medicare enrollees pay the cost of their drugs after they’ve reached the plan’s spending limit but before they hit the out-of-pocket-expenses limit. Some plans cover the gap, often with generic drugs, but those may charge higher premiums.

The Orlando Sentinel’s Vital Signs blog reports on a new plan aimed at trimming drug costs that’s being rolled out nationwide Monday: “Walmart, Humana join to create inexpensive Medicare drug plan.”

Learn more about a one-time $250 federal drug rebate plan to help close the gap, plus “Five ways to lower your costs during the coverage gap.”

-- Mary Forgione / Los Angeles Times