When you have regular prescription medicines you need to take it can be very expensive. Fortunately, most seniors are eligible for a prescription medical coverage through Medicare. You can make use of Medicare to get your drug expenses covered fully or partially. Here are some tips on how to save money through this plan.
Choose the right plan
The average Medicare beneficiaries are enrolled in Medicare Part A and B, which provides hospital and medical insurance. They can further sign up for Medicare Part D to get their prescription drug covered. The other option is to choose Medicare Part C, which has all the benefits from Medicare Part A, B, and D. You can also get extra benefits such as health maintenance organization and special needs plan.
Part C is only offered by private companies approved by Medicare. However, considering the price, Part C may not be beneficial for some people because they might not be able to take advantage of the benefits because it is not well suited to their needs.
Opt for generic
Branded drugs are always more expensive, because they have to pay for advertising expenses. It’s a much better option to pick a generic brand, because they are much cheaper and relatively has the same contents as the branded ones.
Buy higher dosage
Instead of eating two low-dosage pills, it’ll be cheaper to buy one pill that has a higher dosage. You can split them apart every time you need to take them. You have to consult your doctor however, to see if it is possible for the particular medicine you are using.
If you have a drug that you need to take regularly, it’s better to use mail-ordering to get your drugs delivered. Not only will you save travelling cost, you’ll also be able to find delivery fee discounts if you purchase drugs for a certain period.
Sign up in time
If you don’t get prescription drug coverage the first moment you’re eligible for Medicare, you would have to pay a penalty fee when you sign up later on. The penalty fee won’t apply if you already have an existing prescription drug coverage.
The yearly savings you’ll get by following these tips can be quite significant. Choosing the right provider is also another important thing if you want to get the best plan with the lowest price. Contact us if you’re interested in purchasing a Medicare drug prescription plan or any other medical insurance plans.
At Dave Silver Insurance, we work hard in making sure that our clients are well-protected with policies that they can afford. To learn more about how we can help you, please contact our agency at (941) 907-2879 or Click Here to request a free quote.