Did you know that drug costs rose 12.2% in 2014 alone which is 5 times as fast as the year before? And that the price of the 50 top most-used generic drugs has soared over 373% between 2010-2014? What's happening and how can we as consumers save money and be savvy about our prescriptions? One thing that's happening is company mergers, currently leaving 3 companies in control of … [Read more...] about Looking to Save Money? Start with Rx Costs
Bill, a Medicare beneficiary in his early 80’s, signed up for a Medicare Part D plan when the program launched in 2006. His Part D plan, one of three offered by a company, had the highest premium. Even though the premium increased each year, he stayed with the same plan because he found it a daunting task to compare cost and benefits. Bill is in good company. Studies show … [Read more...] about Reviewing Your Coverage Options for 2016 Can Save You Money!
Medicare Open Enrollment is a once-a-year window from October 15 - December 7 where beneficiaries can review and change their Medicare health plan and/or their Part D prescription drug plan. While people don't have to switch plans, it's important to review how their current plan will change in the new year. Otherwise people can end up paying hundreds of dollars for a drug that … [Read more...] about Soaring Drug Prices Remind Beneficiaries to Review Their Part D Coverage in Medicare’s Open Enrollment
Earlier this year, the Centers for Medicare and Medicaid Services (CMS) revised its guidance on payment of Part D covered drugs for beneficiaries on Medicare hospice as beneficiaries were having trouble accessing their Part D covered medications due to too many prior authorization requirements put on these drugs. The Medicare Part A hospice benefit covers drugs used for pain … [Read more...] about Update on Accessing Part D Drugs While on Hospice
Did you know it's illegal for Medicare beneficiaries to use coupons for their Part D drugs? Most people don't....but it is. Coupons are a way that drug companies can entice beneficiaries to use drugs whose copayment, let alone the full cost of the drugs, would otherwise be too expensive. This means Medicare is then footing the bill for these more expensive brand name drugs that … [Read more...] about Illegal to Use Part D Drug Copayment Coupons? Yes It Is