Medicare Part D Costs

The year 2009 has begun and with it the start of the new Medicare Plans. Medicare part D has been a struggle for my husband and I as his medications are extremely expensive and they put him into the Part D Coverage Gap (donut hole) at about March. With three of the FIFTEEN medications that he takes costing almost $1600 alone, finding a way to fund his prescription costs becomes a maze of assistance programs and figuring out which pharmacies offer the best prices.

Here are some of the ways to keep your costs down to a minimum…

• Pharmacies at Kmart, Wal-Mart, Target and others now offer lower priced generics for LESS than the co-pay on many of the Medicare Part D programs. Move your prescriptions.
• If the price of the drug is equal to or LESS than your co-pay, ask the pharmacist to ring it up as a CASH payment bypassing your insurance rather than having it count against your $2700 initial coverage limit.  In many cases Medicare counts the drug at the FULL RETAIL price rather than the price that the pharmacy charges, so you might be needlessly decreasing your coverage.
• If your generic drug is not listed with one of these pharmacies, look into some of the online/mail-order pharmacies such as XUBEX or RXoutreach. Both of these pharmacies offer prescriptions as low as $20 for a 3-month supply.
• When you hit the Donut Hole, it’s time to search for Patient Assistance Programs. Many of these programs will send you your medications for FREE or for a small co-pay.  Income limits may apply.
• For a FULL LIST of patient assistance programs, you can turn to websites such as PPARx, RxAssist and Needy Meds.
• Don’t be ashamed to ask your doctor for samples. He/she does NOT want you to go off of your medication and may have them readily available.
• Ask your doctor if there is a lower priced alternative to what you are taking now.

2009 Medicare Part D limits

• Initial Coverage Limit $2700
• Deductible $295 (only applies to plans WITH a deductible)
• Amount you must pay “out of pocket” once you hit the Coverage Gap (donut hole) $4350

Zippy and her husband are early retirees with a son in college on the seven year plan. As a former actress she learned how to live rich even though her career meant that there would be plenty of lean times. She passes her knowledge about getting VIP treatment, living rich and enjoying life to the fullest on Champagne Living. She also maintains the TweetSweep and Winners Secrets blogs where she shares sweepstakes and interviews of winners. Zippy invites you to follow her on Twitter!