Medicare can be very complicated and confusing especially now with the appearance of Medicare Advantage Plans and the Medicare Part D prescription Drug Plan. Understanding which insurance option and which prescription drug plan would be the best option and save the most money can be a daunting task. Sometimes even after selecting a plan the cost of medications can still be quite expensive and more than what many of us can afford.
Fortunately there are services available that can assist people on Medicare. Many are free and many are not very well known. Here is a list of ten services that can help with understanding your Medicare insurance options or can help with reducing the cost of your prescription medications.
1.Every state is required to have free Medicare Counseling through HICAP/ SHIP. HICAP is an acronym for Health Insurance Counseling Assistance Program. It had formerly been called SHIP which stands for State Health Insurance Assistance Program. Contact the Office of the Aging in your state for more information on HICAP/SHIP.
2.Patient Assistance Programs through the pharmaceutical companies may provide medication at no cost or for a small co-pay. Proof of insurance and financial status often has to be submitted to the manufacturer along with an application signed by both the patient and the physician prescribing the medication. The rules of eligibility vary for each pharmaceutical company.
3.Medicare Savings Program may help pay for some of your Medicare premium or deductible costs. This includes your Medicare Part B monthly premium. Eligibility is based on income. Contact your department of social services or department of human services in your county to apply.
4.The Medicare Extra Help or Low Income Subsidy program will help you pay for some of the Medicare Part D prescription costs, such as the coverage gap, premiums and co-pays. You can apply for this online at www. Medicare.gov or call 1-800-medicare.
5.The Medicare Rights Center offers free counseling and advocacy for people on Medicare. The staff are not Medicare employees. They are extremely knowledgeable about Medicare as well as End Stage Renal Disease (ESRD) Medicare.
6.If you are still working but will be eligible for Medicare soon contact your Human Resources department for free advice.
7.State Pharmaceutical assistance programs may help older adults pay for some of their medication costs. Not all states offer these programs. The criteria for eligibility varies from state to state but are mostly based on your income.
8.If you have served in the military you may be eligible for services and prescriptions under Veteran Affairs. Contact your local office to see if you will qualify.
9.Another excellent resource are the Independent Non-Profit Organizations (INOS). Three examples of INOS are the Healthwell Foundation, the Patient Access Network and the Patient Advocate Foundation. These organizations will often assist people with co-pays for certain medications based on their disease. They also sometimes help with insurance premiums or co-insurances.
10.Ask your insurance plan whether you have a mail order prescription plan. This could save you substantial money on your medications, sometimes reducing the co-pay or co-insurance amount.
Karen Porterfield, MA, LMSW is a hospital social worker who has used all the resources listed above in order to assist people in understanding their insurance options as well as to help them reduce the cost of their prescription medication.
For more information and additional resources visit her website at http://www.understandmedicare.org/
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