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Medicare Part D Prescription Drug Adjustments for 2020

The Centers for Medicare and Medicaid Services have released the 2020 adjustments (note Attachment V) for Medicare Part D prescription drug benefits.  Following are select modified limits relating to the standard drug benefit and the retiree drug subsidy.

Standard Benefit Design

 

2020

2019

Deductible

$435

$415

Initial coverage limit

$4,020

$3,820

Out-of-pocket Threshold

$6,350

$5,100

Maximum Cost Sharing in Catastrophic Coverage Portion of Benefit:

  • Generic/Preferred Multi-Source Drug
  • Other

 

$3.60

$8.95

 

$3.40

$8.50

Retiree Drug Subsidy Amounts

 

2020

2019

Cost Threshold

$435

$415

Cost Limit

$8,950

$8,500

 

 

The information contained in this article is provided as general guidance and may be affected by changes in law or regulation. This article is not intended to replace or substitute for accounting or other professional advice. Please consult a CBIZ professional. This information is provided as-is with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein.

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