Out of Pocket with Medicare

Are you prepared to pay for your medications while on Medicare? Many Americans may find they must spend more than they had anticipated for out of pocket expenses while on Medicare. Medicare does not cover all expenses, especially medication.

Medicare will spring up for many of us before we know it. The rules have changed with the Affordable Care Act. In the past, the “donut hole” left many Americans paying for fees out of pocket. The donut hole will stop by 2017. Americans will still pay fees on Medicare, but differently.

Medicare participants are now paying $1,900 to $107,000 a year for new drugs. The number of new drugs has sky rocketed. These new drugs are being prescribed in doctor’s offices across the country. Many seniors have supplemental insurance to help cover these out of pocket cost, but many do not.

Supplemental insurance while on Medicare may limit coverage for many older adults. You may be left with a high deductible Medicare plan if you are taking multiple drugs for the same reason. As an example, two blood pressure medications and one for cholesterol will cause you to be denied the better Medicare supplemental plans.

I just worked with someone taking 18 medications. Some over the counter and some prescribed. Three medications were for the same problem, and 5 medications counteracted three other medications. This client had 5 specialist to care for her and still had significant unresolved medical complaints.

What really helped was to dive into her life style and identify what changes would make the difference. We were able to isolate a few strategies to work on, one at a time. The results will be apparent over time. It helped to have one professional examine all variables to find the cause of the problem. It is possible she may be able to reduce the number of daily medications.

Mary Ann Wietbrock is an RN & Clinical Nurse Specialist with a vast knowledge and experience with medications and western medicine. She currently helps others live healthier holistically while reducing health care cost. She is a Certified Fitness Trainer Specialized in Nutrition. Contact her at 317-410-9140. Visit her website for more information at www.cardinalements.com

Reference:

http://www.wsj.com/articles/gao-study-illustrates-cost-of-doctor-administered-drugs-in-medicare-1448039927

http://www.ehealthinsurance.com/medicare/compare-supplement-plans

https://psnet.ahrq.gov/primers/primer/1/medication-reconciliation