The initial deductible with Medicare Part D, the amount paid out-of-pocket, was capped at 505 U.S. dollars in 2023. Once the initial deductible limit is reached the initial coverage limit kicks in which is capped at 4,660 U.S dollars for 2023. This statistic displays the standard benefit parameters (out-of-pocket expense limits) for Medicare Part D coverage phases in the U.S. in 2023.
Medicare Part D standard benefit parameters in the U.S. in 2023, by coverage phases*
* Medicare Part D has four coverage phases:
1) Initial deductible - No plan’s deductible may exceed $505 in 2023.
2) Initial Coverage - this phase starts once the initial deductible limit is reached and ends ends once your total drug cost is $4,660 in 2023.
3) Out-of-Pocket-Threshold (TrOOP) - also called the coverage gap, in this phase the beneficiary is responsible for only 25% of the prescription drugs cost.
4) Catastrophic Coverage - this phase starts when the TrOOP is reached, the enrollee is only responsible for copayment up to 5% of the total drug costs.
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MedicareFAQ.com. (November 10, 2022). Medicare Part D standard benefit parameters in the U.S. in 2023, by coverage phases* [Graph]. In Statista. Retrieved October 02, 2024, from https://www.statista.com/statistics/1328715/medicare-part-d-standard-benefit-parameters-in-the-us/
MedicareFAQ.com. "Medicare Part D standard benefit parameters in the U.S. in 2023, by coverage phases*." Chart. November 10, 2022. Statista. Accessed October 02, 2024. https://www.statista.com/statistics/1328715/medicare-part-d-standard-benefit-parameters-in-the-us/
MedicareFAQ.com. (2022). Medicare Part D standard benefit parameters in the U.S. in 2023, by coverage phases*. Statista. Statista Inc.. Accessed: October 02, 2024. https://www.statista.com/statistics/1328715/medicare-part-d-standard-benefit-parameters-in-the-us/
MedicareFAQ.com. "Medicare Part D Standard Benefit Parameters in The U.S. in 2023, by Coverage Phases*." Statista, Statista Inc., 10 Nov 2022, https://www.statista.com/statistics/1328715/medicare-part-d-standard-benefit-parameters-in-the-us/
MedicareFAQ.com, Medicare Part D standard benefit parameters in the U.S. in 2023, by coverage phases* Statista, https://www.statista.com/statistics/1328715/medicare-part-d-standard-benefit-parameters-in-the-us/ (last visited October 02, 2024)
Medicare Part D standard benefit parameters in the U.S. in 2023, by coverage phases* [Graph], MedicareFAQ.com, November 10, 2022. [Online]. Available: https://www.statista.com/statistics/1328715/medicare-part-d-standard-benefit-parameters-in-the-us/
