Do you know the difference between co-insurance and co-payment?? If you have about one minute you can. Copayments are usually set dollar amounts that someone has to pay for specific visits. Part D could have either. Some medications have co-pays which means the cost is level regardless of benefit period level. These copays could even equal ZERO dollars. Imagine that fun bill at the pharmacy.... Some medication will be subject to the deductible and co-insurance or percentage payments of retail cost that the patient has to pay changes. Wouldn't it be fun if I show y'all a receipt or statement from a client with info blacked out? Basic difference is one is a dollar amount and one is a percentage. Hope y'all are loving these. I sure enjoy sharing Medicare words. What words would you like to see defined??
Do you have any questions about your coverage? I'd love to help if I can.