Can I Avoid The Coverage Gap While On Medicare Prescription Plans?



Seniors in the United States struggle each year with affording their prescription drugs. The implementation of Medicare Part D has certainly made a significant impact on the health care coverage of seniors. In fact, more seniors can now get many prescription drugs that they could not previously afford. Medicare prescription plans assist greatly in filling in the gap that traditional Medicare Part D leaves.

The Donut Hole And Medicare Part D

There is a gap in coverage in Medicare Part D. The government will pay for a certain amount, and then, the senior must pay expensive out of pocket costs. Many call it the “donut hole.” By asking your physician about other medication options, you can possibly reduce your coverage gap while on Medicare prescription drugs. It is important to pay attention to the formulary list of Medicare prescription plans. Your physician may be able to prescribe a medicine for your condition that is covered on this list. This will also significantly reduce your out of pocket costs.

Medicare Part D And Private Companies That Contribute To The Coverage Gap in Medicare

Seniors are bombarded by many prescription drug companies trying to recruit their business. Since the passage of Medicare Part D, the insurance market has had a field day recruiting seniors. It is important to protect yourself by knowing exactly what plan you are signing up for. It is a good idea to have a reliable second party help you with your decision. Two examples of Medicare prescription plans are Humana and AARP. They are just two of the many private companies that have partnered with the federal government to provide Part D prescription coverage. Choose wisely because you will be stuck with the plan for at least a year.

Health Care Reform And How Seniors Can Avoid The Coverage Gap

Fortunately, many seniors will begin to receive some assistance in 2010. The Patient Protection and Affordable Care Act will significantly reduce the portion of out of pocket costs that many seniors pay once they reach the donut hole. First, once the donut hole has been reached, the senior will receive a rebate check from Medicare in the amount of $250. Then, in the year 2011, seniors will get a 50% reduction in out of pocket costs resulting from the donut hole. This cost savings in addition to current Medicare prescription plans should make prescription drugs much more affordable



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