Issues
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Prescription Drugs Americans are living longer partly due to successes in medical research and the development of pharmaceuticals that have countered the fatal effects of chronic diseases such as diabetes, heart disease, hypertension, and obesity. Many of us know cancer victims who are alive today because a specific drug was developed to stop the growth of this disease. These achievements are costly, and the pharmaceuticals are often priced in the unaffordable range. A few years ago, Congress enacted the Medicare Modernization Act which included the creation of a Medicare prescription drug benefit. While a vast majority of seniors are reportedly satisfied with the program, others are unhappy with aspects of it such as the coverage gap which is reached when the individual’s drug purchases total $2,510. Coverage resumes when drug purchases total $4,050 (in 2008). At that point, catastrophic coverage starts and Medicare covers more than 90 percent of the cost for the remainder of the calendar year. Out-of-pocket costs can become more affordable with the purchase of generic pharmaceuticals when a substitute for a named brand is available. The Medicare drug card also entitles seniors to the discounted price that their drug plan negotiates with the drug’s manufacturer. Medicare beneficiaries who are not enrolled in a Medicare-sponsored drug plan can reduce their drug costs by taking advantage of such non-government programs as the Partnership for Prescription Assistance (PPA). PPA can be reached toll-free by calling 1-888-477-2669 or on the Internet at www.pparx.org. This program is available to qualifying individuals of all ages. |