Medicare prescription drug coverage, also known as Medicare Part D is insurance that covers both brand-name and generic prescription drugs at participating pharmacies, thus providing protection for people who have very high drug costs or from unexpected prescription drug bills in the future. 

Under this plan, an individual will pay a monthly premium, a yearly deductible, and a copayment for the prescription.  These costs vary depending on which drug plan is chosen.   There are numerous Medicare Part D plans available that differ by the drugs covered which determine the costs of the plan.  Not surprisingly, plans that offer more coverage and more drugs will cost more.  However, it is best to select the plan that covers most of your current medications and not ALL medications.  Several pharmacies offer free reports that will help you sort out the best plans for your medication needs.

For individuals with limited income and resources, and they may qualify for extra help and may have to pay a premium or deductible. You get more information about the extra help by calling Social Security at 1-800-772-1213 (TTY 1-800-325-0778) or by visiting their website at www.socialsecurity.gov.

Everyone with Medicare is eligible Medicare Part D prescription coverage, regardless of income or current health status.  Individuals may sign up when they first become eligible for Medicare (three months before the month turning age 65 until three months after turning age 65).  Failure to sign up at the appropriate time may result in a premium penalty for late enrollment.

Some important dates to remember are:

• January 1 - coverage begins for individuals who have enrolled
• May 15 - enrollment closes for the current calendar year
• November 15 to December 31 - enrollment opens for the next calendar year

For more information about the Medicare Part D plan, visit www.medicare.gov.

Disclaimer: All contents published on RxInfoBlog.com is provided for informational and educational purposes only. Like any printed material, it may become out-of-date over time.  The site and its services are not a substitute for professional medical advice and treatment. Always seek the advice of your doctor before making any changes to your diet, health routine or treatment.

CVS no longer price match.  They have come up with their own program, the CVS/pharmacy Health Savings Pass, that costs $10 annually per person to join.  Benefits include 10% off Minute Clinic services and $9.99 for a 90-day supply of over 400 generic prescriptions.

Walgreens has updated it’s Prescription Savings Club program to compete with others like Wal-Mart and Target.  It is now offering a 90-day supply for $12 (was $12.99) on 400 generic drugs (was 300).  You can currently get $50 in coupons when you come into the pharmacy and ask about the program.  The PSC program is good for people of all ages as well as pets!

Disclaimer: All contents published on RxInfoBlog.com is provided for informational and educational purposes only. Like any printed material, it may become out-of-date over time.  The site and its services are not a substitute for professional medical advice and treatment. Always seek the advice of your doctor before making any changes to your diet, health routine, or treatment.

With the cost of medications on the rise, there are ways you can save money on prescriptions.  I’m sure many have heard of the $4 prescription plans by Wal-Mart, but it is not the only program out there.  Check out these other pharmacies offering savings on prescriptions. 

Disclaimer: All contents published on RxInfoBlog.com is provided for informational and educational purposes only. Like any printed material, it may become out-of-date over time.  The site and its services are not a substitute for professional medical advice and treatment. Always seek the advice of your doctor before making any changes to your diet, health routine or treatment.