Southern Senior Care Blog

News May Not be as Bad as it Sounds

On July 15th, General Motors announced that retired salaried employees 65 and older will lose their GM medical benefits. In exchange, GM will increase pension payments by $300 per month. My father is a retired GM employee, so I am very familiar with this situation. >>> Read the rest …

Just because you have a Medicare Prescription Card, doesn’t mean you have to use it every time you get a prescription. In fact, you shouldn’t use it if you are getting a generic prescription at one of the retail pharmacies that offers $4-$5 generics. For those of you familiar with the “Donut Hole,” or “Gap” you know that when your the total retail cost of your prescriptions in a calendar year reaches $2,510 you enter the donut hole and Medicare quits paying for your prescriptions. So you need to stay below the gap, or delay it for as long as possible. That is why you shouldn’t use your card when you get inexpensive generic prescriptions.

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Based on our research and your feedback, the majority of U.S. citizens believe that the Medicare Part D “Drug Plan” has worked well and did reduce out-of-pocket costs for prescription medicines in 2006 and 2007. Even so, we have spoken with a few clients whose experiences were not so positive.

This month’s main story will focus on a number of cost cutting strategies which could help you save money on your prescription drugs. We’ll start off with some simple, straightforward methods and finish with a few lesser known strategies.

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Medicare Prescription Drug plans (also known as Part-D, PDP) were first introduced in May 2006. Since that time, they have generated more confusion than any other enhancement to Medicare in the last twenty years. >>> Read the rest …