Savings for Seniors Needing Prescription Meds Stuck in the Donut Hole
Get instant savings up to 75%
Download the Free PrescriptionDrugs.com Discount Drug Card
Print Card
Redeem for instant savings up to 75% on name brand
& generic prescription drugs
Accepted at over 60,000 pharmacies nationwide
Many senior are in need of prescription meds. Medicare Part D is one of the most frequently misunderstood aspects of Medicare which provides coverage for prescriptions drugs to enrollees.
As part of the Obama Administration’s health care reform, several important changes for senior Medicare enrollees are expected over the next year. Under the current Part D scheme, Americans are required to pay a $310.00 deductible for prescription meds. After the deductible has been paid, Medicare defrays the drug price and the enrolee must pay 25% of the drug price out of pocket until the total yearly cost reaches $2,830. After exceeding this figure, the enrolee must then pay 100% of the prescription drug price until costs reach $6,440. Seniors will then pay 5% of the prescription meds until the end of the year. The coverage gap is commonly dubbed “the donut hole.”
How Will This Affect Pensioners Who Rely on Prescription Meds?
For seniors needing frequent prescriptions drugs, help is on the way. As part of sweeping health care reform, the Obama Administration announced two important ongoing relief reforms to offset drug costs for seniors. In early June, a $250.00 rebate plan to help close off the donut hole gap was introduced, with checks promised monthly within 45 days of “falling into the hole.” Checks are now beginning to be mailed out to eligible seniors.
An estimated 4 million seniors are expected to benefit from the ongoing rebate initiative by the end of the year.
More changes to Medicare Part D are projected for 2011 as well. Seniors who fall into the hole will be entitled to 50% off brand name drugs and a 7% discounts for generics in 2011. Discounts will rise yearly until 2020, when the donut hole will be eliminated entirely from Medicare.
Visit PrescriptionDrugs.com to get more information about health care and to get your free prescription card today!
