Prescription Drug Plans
The Medicare Modernization Act provided unprecedented prescription drug plans under Medicare with the beginning of 2006. For many seniors, these prescription drug plans have proven themselves difficult to understand. Gathering information on these prescription drug plans is essential in choosing the right one. Because many seniors lack the knowledge and resources for gathering information online, it is up to them and their family members to locate alternate resources for information.
The two key factors for choosing one of the prescription drug plans now offered under Medicare are cost and coverage. For many, it makes the most sense to work backwards beginning with coverage and ending with cost. Since many seniors are already on a prescription medication regimen, determining which prescription drug plans will cover their medication is the primary factor in choosing. One of the quickest methods of determining which plans cover your medications is by visiting www.Medicare.gov and searching their Medicare Prescription Drug Plan Finder. Search tools enable visitors to compile a list of prescription drug plans that cover the recipient’s state and specific medications.
Cost comparison is the next determining factor and where things can get tricky. For those whose list of regular medications is short, comparing cost and coverage should be weighed carefully as certain plans may cost more than filling any regular prescriptions with cash payment. Contrarily, a recipient with several regular medications can compare their savings with the cost of each plan that covers their prescription drugs. It is not likely that those with a regular list of medications will not save some money with one of the prescription drug plans.
For those seniors without access to online information, they can receive the same information by mail and even be provided resources from their local pharmacy or call 1-800-MEDICARE. If there is question about a certain medication and coverage, seniors are also encouraged to talk to their doctors about alternative medications that may be covered under a chosen plan. While the details of every plan may take time to sort out, it is everyone’s hope that anyone eligible will receive the help and assistance they need.
Disclaimer: Cliff Schaffer does not personally endorse or support any of the comments made within the writings of this article.
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