Stretching Your Healthcare Drug Dollars

In these tough economic times, the organizers of health plans are asking seniors to step up and pay more for fewer drugs . Although there is widespread satisfaction with Medicare Part D, prices are going up, so it's good to know how you can shop wisely for drug coverage. Why worry, if you have been fine thus far? Well, both you and your current drug plan may have changed since you last made a decision about what coverage you need. Also, some insurance providers low-balled their initial pricing to entice new members, and they are now raising prices to be in line with the true costs. Here are some things to investigate and medication-savings ideas you can consider:

• Look at the type and brands of medication that are covered by your plan, to be sure that those you need are still on the approved list
• See if generic brands are covered. Generic brands can reduce drug expenses by as much as 80 percent.
• Discuss medication options with your medical provider. Then check the plan you are considering to see if alternatives are covered.
• Consider getting 3 months' worth of drugs at one time, and determine if your plan will allow this. If the medication you are concerned about is a new prescription, be sure it is one that you will take for that long, or you will waste the cost of the drug if its discontinued.
• Check to see if the health plan you are considering allows mail-order pharmacy prescriptions; they are often cheaper.
• Ask if your physician will order drugs that allow you to pill-split. Cutting pills in half can reduce costs

In general, deciding which medications to take and what coverage to purchase is a collaborative exercise between you and your medical provider. By taking an active part in balancing costs and benefits, you can be very effective in reducing medication expenses.