At least 80%of seniors take prescription drugs, and almost half of these have at least five to six prescription drugs. So when these are the statistics in Medicare, it is the reason why most beneficiaries have a concern on the same. However, whether you are in Medicare Part D or Medicare Advantage Plans 2021 or any other private insurance, to help to cover the prescriptions. Still, there are coinsurance, co-pays, and coverage gaps that you need to sort out of pocket. Fortunately, drug coverage and prescription drugs can be less expensive if you do a little research. Below are ways to cut on prescription drug costs as a Medicare beneficiary.
Compare Medicare plans
During enrollment, this is where you can curb your drug costs. For instance, when you choose the Medicare Part D plan, ensure you understand what the prescription coverage includes. That is deductibles, co-pays, and limits and how all these impact your prescription costs. So ensure you check through to other comparable plans to Medicare part D plan. Therefore, before you enroll, compare supplemental prescription drug plans and Medicare Part D to compare the costs.
Visit the Extra Help Program
This federal government program comes in handy for Medicare beneficiaries that need help in covering their prescription costs, deductibles, co-pays, premiums, and coinsurance for Medicare prescription drug plans but have prescription drug coverage. All you have to do is apply to the social security site to determine if you are eligible. In this way, the agency can access the value of your assets, savings, income, among other sources of wealth. Once you qualify for Extra Help, your current prescriptions are sort out and other expenses you accrued before you were ready for approval.
It is easy to fall into patterns with your pharmacy of choice. The staff, location, or store loyalty keeps you coming back, and it may be a strain on your pocketbook. Also, the prices of the prescriptions in most instances vary from one pharmacy to another. So, it is best to shop around. Either by visiting or calling these pharmacies to compare the prices of their medication. You can also find savings on those by going to small independent pharmacies that negotiate various deals with distributors and drug manufacturers in comparison to chain stores.
Discuss with your prescriber
Sometimes many prescriptions are long-term, and they may end up being a part of your everyday routine. So when one day you find yourself with a regimen of pills. It is wise to take an inventory of the prescription drugs and discussing with your prescriber to see if you can find better or lower-cost alternatives and eliminate redundancy. Alternatively, you can discuss with your prescriber how you can inquire about a 90-day supply prescription. As you do this, you will avoid the monthly refills and help lower the costs of the many drugs. When you couple this with a home delivery service, the savings will stretch even further.
Try state pharmaceutical assistance programs
In each state, there are pharmaceutical assistance programs that are in battle with prescription costs. So, contact your state’s insurance departments and request a list of state-based assistance programs. These assistance programs do vary widely, where some have set income requirements or require an enrollment fee. While others allow applications when there are coverage gaps. Also, you can get others that cover medicines for specific conditions. Another provision you can get from this state program is free counseling, and they explain to you more about Medicare prescription coverage options that are within your state.
To conclude, if you are a Medicare beneficiary and you do some research or seek help, you can, in a large way, reduce your prescription medication and coverage costs that you have. The above ways are some that are helpful, and you can try some and others like getting discount prescription cards, visit national and community charity programs, among others that can be of help to you. Therefore, devote some of your time to research to ensure you are not priced out as prescription drugs not only save your life but improve the quality of your life too.