Seniors in the Donut Hole
By Shane Power, President of Watertree Health…
If you are 65 years or older, you are most likely familiar with the Medicare Part D coverage gap, known as the “donut hole.” The Affordable Care Act (ACA) includes important improvements to Medicare prescription coverage, providing discounted prices until the gap further closes by 2020. Until then, you may be stuck struggling to afford the vital medications you need to stay healthy while you’re in the donut hole.
As you know, when you are in this coverage gap, you are required to pay out-of-pocket for medications, even while you continue to pay premiums. In 2015, this coverage-gap generally begins once prescription expenses reach $2,960, and ends when costs total $4,550.
There are many seniors who need help paying for their medications. A recent Kaiser Family Foundation study found that 19 percent of Medicare enrollees fell into the gap, particularly those taking expensive drugs for breast cancer and Alzheimer’s. And, almost all of those people remained in the donut hole for the rest of year.
If you’re in the gap, you can use our prescription discount card to save money and help relieve some of the financial burden your medicines may bring. Be sure to check with your health care provider to see if prescriptions filled with our card will count towards getting out of the donut hole.
You may have noticed that your Medicare Part D plan, like most plans, does not cover every drug on the market. Popular medications for weight loss or weight gain, hair loss, sexual or erectile dysfunction and other common medical issues are most likely not covered by your plan. All medications are eligible for savings with our prescription discount card.
Don’t let the cost of your medicine be the reason you can’t create a better cycle of health for yourself. Next time you’re at the pharmacy, give our card to the technician to put in your file. This way it will always be there for future use and you’ll always pay the lowest price available.
Get your Prescription Discount Card now and start saving up to 75% on the medications you use every day!