Prescription Coverage, Is it Necessary?

Posted on December 17, 2018 | by

Is it necessary to pay the extra cost to get a prescription plan added to your regular coverage? The answer to this is yes. Major prescription drug companies place astronomical prices on their medications. This makes it difficult for the typical person to be able to afford their daily maintenance medication.

Finding The Right Plan

There are many aspects that should be accounted for when deciding what type of plan is the right choice for you. Your overall health and what you need for a good quality of life needs to be taken into account. Medicare for those over 65 years of age has many different plans to look at. Medicare Part A is free and covers hospitalizations, while Medicare Part B covers the doctor side of things and may have a small monthly premium. Both of those plans are recommended for good health. Then it is time to look at Part D, prescription drug coverage. This is needed to cover medication costs. Prices will vary, but in the long haul, it will save you money on your prescription drug needs. By looking into the different prescription drug plans, it is possible to find the one that meets your budget and your needs.

Why Get A Plan?

With the costs of prescription medications constantly rising, it may become difficult to be able to afford the medication. Drug companies do not take into account the people who need their medications, but only look at the bottom line of the amount of money that can be made off the medication. By doing this, it hurts those who need a medication to be able to breathe, have their heart beat, or for their mind to work efficiently. Those are the people who suffer at the hands of major drug companies. This doesn’t have to be the case. By finding a prescription drug coverage plan, cutting the cost of medication is possible. Understanding the different plans, and Medicare in general, it will also make it easier to be able to get the plan that will cover what you need. For those who may have a lower income, there are ways to be able to have plan prices adjusted to fit your income needs. It takes some paperwork, but will save you even more money should you qualify. No person should have to choose between putting food in their stomach or paying for shelter over having a medication that helps their body to function.

One daily steroid inhaler can easily cost several hundred dollars. This is used to help keep someone’s lungs open to be able to breathe. Some have to choose to go without needed medication due to costs such as that. By adding prescription coverage to their regular insurance coverage, it is possible to afford medication. A 200 dollar medication can now be 30 dollars, which is much more affordable. The same problem arises for other medications as well. Heart medication can also run several hundred dollars out of pocket, but if the client were to have prescription coverage, it is possible the medication could be 10 dollars or even free.

How It All Works

Medications are placed on a tier system numbered one through five. The cost of the medication will vary based on their position in the tier. This tier may not be the same for each insurance company, so it is critical to know that you can save by shopping around. Some medications that are on tier one or two are going to be the cheapest and some are free. These are the preferred drugs. By looking at the medications that you are currently taking you can look at the different plans and see approximately what you will save with each plan. Doctors are also able to adjust or change medications based on what is covered by your Plan D coverage. Possibly your meds will be covered by buying the generic or by changing to a medication that is different but is able to work in the same way. In a sense, this is a way of getting back at the major pharmaceutical companies for placing such a high dollar amount on their medications. Doctors will place people on medications that are covered and affordable for their patients.

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