By Elliot Raphaelson
From Tribune Content Agency
If you use Part D of Medicare to help cover your prescription costs, Medicare has recommended five ways to lower your costs. I'll summarize them below and add a further recommendation.
Consider Switching to a Generic Prescription
If you are using a name-brand prescription that is expensive—the costs of many have increased recently—ask your doctor if there is a generic alternative that will meet your needs. You can also determine whether using a mail-order pharmacy will reduce your costs.
Find a Drug Plan That Offers Additional Coverage in the Medicare Drug Coverage Gap
When you enter the drug coverage gap, the cost of your medications increase. There may be a plan that reduces your costs in the gap. However, you have to determine if it carries a higher premium that outweighs the benefits. Medicare.gov, a website operated by the Centers for Medicare & Medicaid Services, has
a page that allows you to explore plan options and determine if there is a one that will reduce your costs.
See if Your Drug’s Manufacturer Has a Pharmacy Assistance Program
Many manufacturers offer assistance programs, based on your financial situation, that will reduce your costs. For example, readers who use Eliquis and Dexilant have found programs that reduce their costs significantly. Contact your drug manufacturer to determine if there is an assistance program for your expensive drugs. Medicare.com also has
a webpage to assist your search using the drug name as a keyword.
Take Advantage of a State Pharmaceutical Assistance Program
Medicare.gov can help you find out
if your state has an assistance program that will reduce your drug costs.
Apply for Extra Help
Medicare and Social Security offer a way for families with limited resources to get help that will reduce drug cost. To find out more, go to
www.medicareinsurance.com/what-is-medicare-extra-help. Your income level and level of some financial resources will determine your eligibility. If you are eligible, your out-of-pocket drug costs will be reduced, and in some cases your costs for a specific drug can be completely eliminated.
