Coupons, Generics, and Plans – Which are Most Reliable?
If you’ve ever faced the difficulty of not being able to pay the exorbitant prescription drug prices that are all too common in the United States, then you know that there are a variety of options you might pursue. One option is to use coupon sites; these sites often offer a wide variety of coupons directly from the manufacturer which you can redeem at pharmacies in order to reduce the total cost of your drugs. Another option, of course, is to go with generics.
But one of the biggest problems with these two options is that they always keep you covered. What do you do in the event that one of the coupon sites doesn’t offer a coupon for the drug you need? And what about if there’s not a generic option available, as is often the case? In such cases, the best thing you can do to help afford your drugs is to be sure you’re enrolled in a high-quality prescription drug coverage plan in West Orange, NJ.
It Pays to Know the Gaps in Your Coverage
When you’re looking for prescription drug coverage in West Orange, NJ, it pays to understand just what gaps you need covered.
If you’re on Medicare and you have the supplemental Medicare Part D coverage, then many of your existing drug costs are already covered.
However, there is something known as the “donut hole”: a gap that patients all too often fall into whereby Medicare can no longer cover their prescription costs.
After your annual deductible is met, your part D plan will, at least in most cases, cover at least some of the costs associated with your prescription drugs. But once you and your plan combined have spent a total of $4,430 on prescription drugs (not counting monthly premium payments), you’ll enter the donut hole, wherein your plan will be limited in how much of the drug costs it can cover. While you’re in this position, you’ll pay 25% of the plan’s costs for drugs that are covered. Once yor total out of pocket expenditures on covered drugs reaches $7,050 for the year, however, you’ll come out of the donut hole, and your plan will cover most of your drug costs once more. As those who are on a wide variety of medications know, you can hit this ceiling all too quickly. And when you do, you don’t want it to be a surprise that sticks you with owing hundreds or thousands of dollars just to get the care you need. A prescription drug coverage plan is designed to kick in when Medicare Part D fails, ensuring that your drug costs are covered, no matter how much care you need in a given year.
