Understanding Renter's Insurance Plans Understanding Renter's Insurance Plans

Medicare can be such a huge help for seniors and those who are on disability. Depending on what plan you have, your Medicare may be paying anywhere from 80 percent of your medical bills to 100percent if you are on Medicare and Medicaid. However, paying for prescriptions can sometimes be its own headache. If you are on original Medicare, for example, you must also have a separate part D plan to cover your prescriptions. Most advantage plans require a copayment which, depending on the medication can be quite pricey. Here are a few tips to help you get your medications for a reasonable amount.

Change Your Drug Plan Yearly

Those who organize and make the rules for Medicare (the federal government) are aware that there are many variables that change yearly in regards to one's health. The drug plans themselves change, the prescriptions that an individual is taking can change by the month, and the prices for medications themselves are constantly in flex. It is for these reasons that there is a yearly open enrollment with Medicare. Open enrollment is an opportunity for individuals to take a look at their medical needs for the new year and change their plan accordingly. It is so important that individuals take the time to look at their drug plan in depth to see if it can still meet their needs. Search your medications on medicare.gov to see if your plans drug formulary still covers your medications at a reasonable rate. If not, look into switching to a better plan. 

Shop Around

Some may be shocked to find out that they could save a lot of money on their medications simply by switching to a different pharmacy. This is due to the fact that some pharmacies are contracted with specific insurance plans and may offer participants in those plans a discount. Other pharmacies may not be a large chain but just a simple mom and pop drug store. This could either increase or decrease the price of their medications. Take the time to research where your prescriptions will be the cheapest. 

Use Prescription Coupon Cards

If you still cannot find a good deal for your medications, you may want to try prescription coupon cards that can be found online. Websites such as goodrx.com or wellrx.com could save you big bucks when used instead of your insurance. Take a look to see if you can get a deal.