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"easyMedicare made getting the coverage I deserved easy and saved me a great deal of money."

- Joe Theismann

Joe Theismann - NFL MVP and Super Bowl Champion

Medicare Online: 3 Ways to Offset the Increasing Cost of Prescription Drug Coverage

medicare-online-lower-prescription-drug-costs

Whether you’re enrolling in Medicare online, or need the help of a licensed agent, the cost of prescription drugs are an important factor in choosing your plan. According to the Kaiser Family Foundation’s August 2019 report, Prescription Drugs and Older Adults, 23 percent of adults 65 and older say they find it difficult to pay for their prescriptions, while a whopping 76 percent think prescriptions cost too much.*

If either of those hit home for you, here are three ways you might be able to reduce your prescription drug costs.

Apply for Medicare Extra Help

The Extra Help program is specifically designed to assist with prescription drug costs. It sets standard costs for specific medications and in some cases may cover premiums or deductibles.

The program is run by the Social Security Administration (SSA). You can apply for Extra Help online or request a paper application by calling 1-800-772-1213. To complete the application, you’ll need a number of documents, including your Social Security Card, bank statements, and tax returns.

Some people are automatically eligible for Extra Help, including those who have full Medicaid coverage, are enrolled in a Medicare Savings Program, or receive Supplemental Security Income (SSI).

Determine Your Medicaid Eligibility

Individuals who are eligible for both Medicare and Medicaid (known as dual-eligible) may be able to receive some cost assistance through Medicare Savings Programs. Medicaid eligibility is based on income and the qualifications are specific to your state. Find out if you qualify before enrolling in Medicare online. Learn more about dual-eligibility.

Consider a Medicare Advantage Plan

Medicare prescription drug coverage is available through separate Part D Plans, but some Medicare Advantage Plans bundle Original Medicare Parts A & B, Prescription Drug Coverage (Part D), as well as additional benefits like dental, vision, and hearing coverage. Reviewing a variety of Medicare Advantage Plans in your area might help you find a plan with lower overall costs. Be sure to take a look at each plan’s formulary, which lists the prescriptions that are covered, as well as the cost for each one.

Save on Medicare Online or with a Little Help

Our licensed Medicare agents are available for a no-cost consultation where they can help you find and evaluate Medicare plans that suit your needs. Call 1-800-991-4407 / TTY 711 from 8 a.m. to 9 p.m. Eastern, Monday through Friday.

You can also find Medicare Advantage Plans in your area using our convenient Medicare Online Enrollment Portal. Just enter your zip code to see plans in your area, then easily sort and compare. You can even see a page with just Medicare Advantage Plans that include Prescription Drug coverage. You can also add your prescriptions and compare the costs across plan formularies.