About 2 weeks ago on CBS 60 Minutes, a segment discussed the high cost of cancer drugs. Two Oncologists discussed what a crime it is that Medicare cannot negotiate the pharmaceutical companies for cheaper prices for Medicare Part D prescription drug plans.
I wanted my readers to be aware of why costs and copays for Medicare Part D prescription drug plans are rising.
Pharmaceutical companies have lobbied very heavily, so Medicare cannot negotiate with the various drug companies about the costs of prescription drugs which are in the formulary for Medicare Part D prescription drug plans.
There are over 50 million people on Medicare with over 10,000 getting on Medicare every day for the next 18 years. Can someone tell me why the biggest block of Americans needing prescriptions are not able to lobby for better prices as a majority?
I think that as one of the largest groups (people on Medicare) that is 50 million strong, they should join together and ask Congress to reconsider this law…Where is AARP, AMAC or any other organization that advocates for those on Medicare in regards to this issue?
January 1 of each year, the process of Part D starts all over again, with new Medicare Prescription Drug plans and different costs, deductibles and a new Donut hole and new confusion especially when someone sinks in the donut hole.
*** What confuses the average person is that the total cost of the prescription is reported to the insurance company and they report the total amount which includes your co pay to Medicare. Most think it is only the co pay that is being reported and then they wonder WHY they are in the donut hole!!***
I have a very hard time trying to help people understand that you do not have to put every prescription on your Medicare prescription drug card. Use your card for your high cost drugs because once you get in the “Donut Hole”, you have to spend $4,550 for 2014 to get out of it.
Toni’s Tips to help you stay out of the Donut Hole or not get in it as soon!
- Use medicare.gov when selecting a Medicare Part D plan whether it is your first time or changing during Medicare’s Annual Enrollment Period in the fall. This is an accurate way to view the cost of drugs and which plan and pharmacy is most cost effective.
- Talk to your doctor or doctors about which brand name drugs can be changed to generics.
- Get samples from your doctor.
- See what generics are in a $4 or $5 generic prescription drug programs at HEB, Wal-Mart, and Kroger etc… Pay for the genericsout of your pocket. To get their discounted price you only need a prescription from your doctor.
- Use your Medicare Part D plan for your brand name drugs and expensive generics. You do not have to put every prescription on your Medicare Part D plan.
- Contact the Prescription Assistance Program in Lake Jackson at 979/285-1430 which has saved over $64 million dollars helping people get their prescriptions at affordable prices when people can’t pay for them.
- Go to tonisays.com and sign up for Toni’s newsletter and receive a “free” copy of the new Medicare Prescription Drug Survival Guide e-book version.
Toni King is the author of Medicare Survival Guide is available only at www.tonisays.com . Toni is an advocate/consultant for those “Confused about Medicare”. Email questions or to consult with Toni and her team about your Medicare needs to www.tonisays.com/ask-toni or call 832/519-TONI (8664).
