Facing a Coverage Gap: How to Reduce Expenses


Enrolling in a Medicare Prescription Drug Plan is an excellent way to ensure your continued health, and is often essential in providing a way for you to receive the medication you require.  However, there are times when you may experience a gap in your Medicare drug coverage. In fact, most drug plans have some type of coverage gap.  For instance, sometimes the gap is in the form of a financial limit.  Other times, the gap is due to a lack of coverage for a specific type or brand of medication.  Whatever the cause, finding yourself in a coverage gap can be costly.  There are, however, a number of things you can do to reduce this financial burden.

One way to reduce your expenses is to switch to a generic version of your required medication.  You may also be able to find brand name which is less-expensive than the one you currently use or use an over-the-counter variety.  To explore your options, visit the Prescription Drug Plan Finder section at www.medicare.gov, or talk to your health care provider.

Another way to reduce costs is to look at programs offering financial assistance.  There are a number of community based and national charitable programs that are designed to help people cover the cost of medication.  You may also want to explore whether there are any State Pharmaceutical Assistance programs available in your area.  Many drug manufacturers also offer assistance programs worth looking at. If you’d like additional information about assistance programs, there are a number of helpful online resources available.  Visit http://www.benefitscheckup.org for a “Benefit Checkup” website, http://www.medicare.gov/pap/index.asp for “Pharmaceutical Assistance Programs”, and http://www.medicare.gov/spap.asp for the “State Pharmaceutical Assistance Program” site.

Finally, if you have limited income and are a Medicare recipient, you may be able to receive extra help covering your costs.  To find out if you qualify, visit www.socialsecurity.gov, call them at 1-800-772-1213, or contact your State Health Insurance Assistance Program.


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