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Medicare Beneficiaries and Prescription Drugs

Costs for Medication can make up large parts of seniors citizens’ budgets, however; some simple steps can easily save them hundreds of dollars each year. What is the largest single cost-saver? Selecting the correct Medicare plan. Whether a person is signing up for Medicare for the first time or preparing to renew their current plans, they will need to make careful selections so they do not end up spending more money then they need to. Asking their health care providers some key questions such as, “do you offer a generic brand?” can in the long run save you a bundle. The first step is to select the right drug plan this will depend on what type of drugs you take. Most seniors are enrolled under original Medicare that include Medicare Part A and Medicare Part B. Getting drug coverage will require one of two extra steps. Seniors have the option to get their drug benefits via private plans, which is regulated by the government, under what is called Medicare Part D, or they may get drug coverage that is bundled into a private Medicare Advantage plan. Part D plan, enrollees will pay between $15 and $165.40 monthly for their premiums which will depend on regions and plans. Those who are enrolled in a Medicare Advantage plan, have an alternative, which is Medicare Part C, and it replaces original Medicare and will provide prescription drug coverage and is an essentially way to get Medicare Part A, B, and D all in the same package.

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