It is no doubt that over the last week or two, you’ve read articles, watched t.v., or listened to the radio where Healthcare Reform was the main topic. No matter what side of the fence your on, the bill has passed, and so it is important to understand how it will affect you over the coming years. This week, we’ll take a look at how Medicare Part D or Medicare Prescription Drug Coverage will be affected. Here is the breakdown: In 2010, Medicare Part D participants who reach the coverage gap (otherwise known as the doughnut hole) will receive a $250 rebate In 2011, Medicare Part D individuals who reach the coverage gap will receive a 50% discount on brand name drugs, but not until they reach the coverage gap. Brand name drugs will be subsidized slightly more each year … Continue reading
As the debate over healthcare in the United States escalates, it is worth some time to take a look at your own medical benefits (if applicable) and analyze what it is your benefits offer you. Too often, people (both insured and uninsured) are under the impression that filling their prescription medicines will cost huge amounts of money, and don’t do so as a result. In many cases, this is false, and may actually end up costing you more down the road. Today’s prescription insurance structure is a complicated maze of different copays/coinsurance, certain drugs not being covered because they are not “preferred,” and less coverage for more money. Meanwhile, pharmacy insurance companies (othewise known as PBM’s or Pharmacy Benefit Managers) are making more money than ever by dictating what medication your doctor can prescribe you based on what medications they can get … Continue reading
