How Medicare part D is financed?
It is roughly estimated that almost 75 percent is drug coverage is government financed while remaining 25 percent is financed by the beneficiaries of the insurance. Part D coverage is privatized and totally opposed to the conventional Medicare. In which government can’t directly pay to the service providers. All funds are handed over to the private insurers to supervise benefits.
There is a coverage breach in t the Part D which is called doughnut hole. When beneficiaries are crossed their specific annual limit they have to pay the hundred percent of the cost. It is claimed that gap relieves the monetary load on recipients with the most overpriced drug costs.
Medicare part D has face criticism also and it was due the private administration instead of government. Critics also claim that its programs and prices of drugs are expensive. There is also confusion in selection of plans due the different formularies of private issuers.