Medicare Prescription Drug Plan
Medicare Part D
Medicare Prescription Drug
This is the part of Medicare that pays for some of your prescription drugs. You buy a Part D plan through a private insurer.
Each generally has some premiums and other out-of-pocket costs, either flat copays for each medication or a percentage of the prescription costs. They also may have an annual deductible.
Prescription drugs can be expensive, in some cases the highest percentage of Medicare costs are prescription drugs. Part D coverage and costs beyond the standards set by Medicare vary from plan to plan making it important to work with a Medicare agent to review all Part D coverage and costs.
Strategies for Prescription Drug Savings
The cost of prescription drugs can be a financial burden, if not just unaffordable, for some
Medicare beneficiaries. With a Medicare Part D plan, Eliquis can cost $1,200 or more a year,
Trulicity can cost $1,500 or more a year. The question is how does one with limited income pay
for these and other expensive and vital medications? We can help you find strategies for
prescription drug savings.
First, we must review the cost of your drugs during the Annual Enrollment Period which runs
from October 15 th to December 7 th . Every Year. Drug manufactures, insurance carriers, and
CMS make changes every year and we must review those changes to look for savings. It is also
during this time, we can search year round but later in the year is when we can apply for
assistance for the next calendar year with patient assistance programs. Patient assistance
programs are run by the pharmaceutical companies to provide financial assistance allowing
access to expensive medications for little or no cost. There are also nonprofit charities that
provide help with the cost of medications. I have access to a comprehensive drug database
where we can learn if there is financial assistance for your drugs.
There are also several low cost pharmacies, pharmacy discount cards, and Extra Help. Extra
Help is a Federal program for low income individuals. Together we can develop strategies for
your prescription drug savings.