Many seniors rely on prescription drugs and attach the Medicare Part D plan to their Medicare A and B coverage.
Any sane person who has exigencies of any kind of prescription drugs is fully aware that they are not cheap, unless they have a source in Canada or Mexico, then they are cheap. Reliability may be another story. You should also know that drug prices offered in some Medigap plans here in the USA are 60 percent higher than those you can purchase elsewhere. Drugs were also found to be 3 percent higher than prices at Costco.
If you were informed when you entered the Medicare medical coverage programs you could have enrolled at that time to keep from paying a penalty cost later on. If you are already in the Medicare Advantage Plan, chances are you already have Medicare Part D coverage. However, you better check on your existing coverage to validate this possibility.
Medicare discount cards offer discounts of 10 to 25 percent. Trouble is these cards are issued by private companies who can bump prescription prices up or down on a weekly basis. Not a good thing.
That would be one item you should be prescient of upfront. Many Part D program insurers impose quantity limits to restrict the duration of treatment or limit the monthly dosage, especially for cholesterol-lowering statin drugs. Often your private Medicare Plan D insurance company will require you to try a cheaper drug and eschew the higher priced drugs.
That’s okay. Go ahead and do that and you’ll save a ton of money. Just remember your out-of-the-country purchases will not count toward your deductible limits under Medicare Plan D.