What is the best pharmaceutical drug plan for my elderly dad that's on medicare?

Question

i've heard that the new medicare drug plan is not much help so am wondering if anyone has input on a drug/insurance plan that might be good. he pays up to $180 for one of his meds but i found some overseas that are generic and one-fourth that amt. but is there a drug insurance plan that you know of to be an even better deal? thanks.

Answer 1

The new Medicare Part D benefit is structured like a catastrophic insurance policy. Many seniors who are not taking a lot of medications now, don't think it's a good deal for them. Added to this, there are lots of different companies with lots of different kinds of plans--this can make selecting a plan very confusing! If it brings you any comfort, you and your Dad are not alone in asking questions about this benefit.

There are lots of folks saying that Part D is "not much help." You will want to find out whether this is true for your dad or not. To answer this depends on several factors, including what kinds of prescription drugs he takes, what kind of plan he (and you) are willing to accept, and whether the plan you want will pay for the specific prescription drugs you need. The way Part D Medicare is structured is definitely not a "one size fits every senior" deal. Each individual--even husbands and wives--needs to go through the process to determine what plan is going to meet their needs and will be the "best deal,"

After looking at the plans available in your state, you may determine that at this time it does not pay to enroll in a Medicare Part D plan. While this may be true, you also need to speculate on whether the costs of your Dad's medications will escalate in the future. This is because for every month after May 15, 2006 that Medicare beneficiaries opt not to participate, the federal government will apply a 1 % (one percent) a month penalty. So, if one decided not to enroll in May and waited until November, this person will pay a five percent higher premium on this benefit for the rest of their life than the person who enrolled in a plan in May 2006.

I do not know about the plan benefits where your dad lives--but I can tell you that if you live in the USA or one of its territories, there are objective professionals not far from where you are who can help you sort out your options based on what you need and want so you can make the best decision possible--the folks at your Area Agency on Aging.

Area Agencies on Aging are one of the best kept secrets around for folks who need information about consumer issues and Medicare Part D . They work with a lot of seniors everyday, so they are great resources who probably know the "scoop" on the different plans. (And they are not trying to sell you anything!) So, you might consider calling your local Area Agency on Aging. If you live in the United States or one of the territories, there is one serving your area. You can call toll-free 1-800-677-1116 to find how to contact the one serving you. Each Area Agency on Aging has professionals available to answer questions like this one. You will most likely find the people there friendly and very helpful.

When you confer with these folks, it is important to know the name of the drug that your dad is taking, the dosage required and the pharmacy that he prefers to do business with. All of these are factors you'll need to determine the best plan.

If you do contact your local Area Agency on Aging and like the help that they give you, let your local county officials and your folks in Congress know. Area Agencies on Aging don't have big budgets for advertising and certainly don't have budgets.
Also I know they would appreciate your voluntary contribution to help them support their work with other folks like you and your dad.

Hope this helps you and your dad! Best wishes!

Answer 2

Those plans are so confusing for EVERYONE to try to figure out. You just have to have a list of your father's med (both # of pills and dosages) and check each plan to determine your cheapest. The time of year that you enroll will also determine the cheapest plan.

Do it yourself, talk to a pharmacist or an insurance agent.


Good Luck

Answer 3

that one is a booger to figure out. call both the pharmacist you use and your local senior citizen center. They may be able to help or know of someone who can help you choose a plan. Good luck on this one.