Medicare Part D Prescription Drugs
Senior Discount Programs and Other Rx Moneysaving Tips
Drug costs can be through the roof if they aren’t covered by a good health plan.
Fortunately, Part D of Medicare covers prescription drugs, and anyone enrolled in Medicare Part A or Medicare Part B is eligible for this coverage, regardless of income and resources, health status, or current prescription drug expenses.
Participation in Part D is voluntary and can be especially helpful for people who have high prescription drug costs and no current prescription drug coverage. Medicare prescription drug plans pay for generic and brand name prescription drugs. As with Medicare Part B, there are monthly premiums, deductibles, and copayments. To receive Part D benefits, you must pick a plan offered by a Medicare-approved private insurance company. Availability of Part D plans varies from area to area.
You have two options when it comes to obtaining Medicare prescription drug coverage. You can join a Medicare prescription drug plan to add prescription drug coverage to Original Medicare, or to some Medicare Cost Plans, Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans. You can also get prescription drug coverage through most Medicare Advantage Plans, particularly Health Maintenance Organizations (HMOs) and Medicare Preferred Provider Organizations (PPOs).
Seniors are often on a tight budget, but there are ways to help reduce prescription drug costs. Here are some questions to ask to help determine whether you’re paying as little as possible for your prescription drugs:
Are you using generic drugs whenever possible?
Can you find a less expensive or mail order pharmacy?
Have you considered splitting higher-dose pills rather than paying the same amount for lower-dose pills that won’t last as long?
Are you taking any medications you don’t really need?
Have you investigated state and charitable assistance programs?
Senior prescription drug discount programs are available through some pharmacies and organizations, and two good places to start investigating such discount programs and ways to save money on your prescription drugs are here and here.
If you’re serious about reducing Rx costs, call MedicareMall toll-free at (877) 413-1556 and we’ll be happy to discuss your situation and see how you might save money on prescription drugs.