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PRESCRIPTION DRUG COSTS
The open enrollment period for drug discount cards approved under the Medicare Modernization Act is coming up: From mid-November to the end of December, those who have already signed up will have the opportunity to switch cards for 2005. Given the profusion of cards now available -- and given the impending enrollment deadline -- professionals who work with older adults are finding themselves besieged with questions from beneficiaries.
Here’s how Senior Connections can guide seniors:
There is no exactly “right” way to research the lowest-cost source/sources for your prescriptions. However, if you follow the outline below, you should gather enough information to determine whether a Medicare-approved drug card may save you money on your prescriptions.
IF YOU ARE ELIGIBLE FOR THE LOW-INCOME CREDIT, YOU PROBABLY SHOULD APPLY TO A SPONSOR.
Even if a Medicare-approved discount drug card does provide savings, you may discover that another assistance program or source may offer lower prices on some of the drugs you need. Just be sure to record the lowest cost and its source for each your drugs as you review a site/source. You will need them to make your final price comparison.
Remember you do not need to get a Medicare-approved drug card.
- Review the steps on Medicare-Approved Drug Discount Tip Sheet
- Complete your Personal Information Sheet
- Go to www.Medicare.gov and explore the Prescription Drug and Other Assistance Programs (You can call 1-800-MEDICARE instead of using the Internet.)
- Start by answering the Eligibility Questions
- Search for your drugs
- Check Mail Order Pricing and Generic Alternatives if available
- Review Summary Results (Check summary to see if you are eligible for low-income credit. It will have been determined based on your answers to the eligibility questions.)
- Review MoreWays to Save before comparing prices
- Compare Prices and record the sponsor/source that provides the lowest price
- Check to see if Medicare Replacement Drug Demonstration is still open and if you are eligible to participate in the demonstration
- Go to www.medicarerights.org (If you do not have computer access, perhaps a friend or family member can help you complete your research on the Internet sites.)
- Explore Help Paying for Prescription Drugs (Rx), especially National Prescription Drug (Rx) Assistance Programs
- Note Mail Order/Internet Discount Pharmacies (Canada) and check prices for your drugs
- Check www.destinationsrx.com for lowest-cost Internet pharmacies
- Go to www.benefitscheckup.org
- Click on BenefitsCheckUpRx and complete questionnaire
- Click on BenefitsCheckUp and complete questionnaire
- Check Military Coverage if you are a veteran
- Call US Department of Veterans Affairs at 800-827-1000
- Call Military Retiree Benefits—TRICARE at 888-538-9552
- Use NY State Atty General Comparison Tool at www.NYAGRx.com
- Check cost of prescriptions using the NassauRX Prescription Discount Card, at least with the pharmacy you are currently using
- Organize and compare the availability and costs from the sources researched
- If you are eligible of low-income benefits, apply to the Medicare-approved discount card sponsor that saves you the most money on your prescriptions.
- Determine if any other source researched charges less for your prescriptions than the lowest-cost Medicare-approved sponsor charges. Although you cannot use more than one discount on a prescription, you can buy your prescriptions from more than one source.
- Apply for a Medicare-approved card if it provides the best prices on you prescriptions of all the sources or combinations of resources that you researched, taking into consideration the low-income credit if you are eligible.
Internet-LowPreCost.doc