Prescription Costs for older adults (and everyone)

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HappyDaze
Posts: 4186
Joined: Tue Oct 15, 2019 11:11 am

Prescription Costs for older adults (and everyone)

Post by HappyDaze »

I was in line at the pharmacy a little while ago to pick up one of my prescriptions that wasn't ready yesterday. The man ahead of me was picking up some sort of inhaler for his mother. She was quite elderly and using a walker and clearly not entirely well. The cost was $81 and change - out of pocket. The man went to where his mother was sitting and told her the cost. His mother said, "Tell them I don't need it."
This has happened to my parents - one of my dad's meds was hundreds of dollars when he went to pick it up. He told the Pharmacist he couldn't pay and asked if they had any discounts. They took some information from him, spent about 20 minutes on the phone and on the computer and came back with a price of less than $100 - and that will be his price going forward.
So I have to wonder - if people don't ask - why do they not offer to see if there is anything they can do to lower the cost? I wanted to buy the lady her medicine - but I didn't want to offend. I did tell them about a local organization that can "sometimes" help "some people" pay for medications - and they said thank you and left. It was sad.
I am so blessed right now - my prescription costs go against my $6,300 medical insurance deductible and then my employer reimburses 100% up to $650 a year. However, this will not always be the case. When I retire, what will I do? If I retire before I am Medicare eligible (which I hope to do), I know I'll be paying a lot for medical insurance and medications. Even after I am medicare eligible, I see how much my parents pay for their supplemental insurance and medications and it's a wonder they can afford to eat!
I know my parents also get a lot of free samples from their doctor. I guess the time for me to start thinking about this is NOW, before I am no longer working and doing my research on what can be done to lower costs. I do remember a few years ago I applied for a discount for my dad through a drug company and he got it twice but couldn't get it again.
I am not saying that I think medicine should be free - but dang, shouldn't it be affordable to the average person? What are your thoughts?
"All his life he tried to be a good person. Many times, however, he failed. After all, he was only human. He wasn't a dog."

Charles M. Schultz
Beverley
Posts: 553
Joined: Fri Oct 09, 2020 11:33 am

Re: Prescription Costs for older adults (and everyone)

Post by Beverley »

Prescription costs, along with health insurance, should be affordable to EVERYONE! No one should have to suffer ill health or die because he cannot afford to get the needed care.

My daughter started a new life-saving medicine two years ago and the retail price runs about $300K per year. She is under my insurance plan as a disabled dependent. She has not needed her semi-annual week long hospital stays or out patient antibiotics during that time so it appears the cost of her care during this time has been a wash which makes me so happy! And her quality of life has improved astronomically!

The pharmaceutical company is continually working on new and improved medications of this type for those with CF who do not have the ge\ne for the current medicine to work

Bev
HappyDaze
Posts: 4186
Joined: Tue Oct 15, 2019 11:11 am

Re: Prescription Costs for older adults (and everyone)

Post by HappyDaze »

Beverley wrote: Sun Dec 05, 2021 2:46 pm Prescription costs, along with health insurance, should be affordable to EVERYONE! No one should have to suffer ill health or die because he cannot afford to get the needed care.

My daughter started a new life-saving medicine two years ago and the retail price runs about $300K per year. She is under my insurance plan as a disabled dependent. She has not needed her semi-annual week long hospital stays or out patient antibiotics during that time so it appears the cost of her care during this time has been a wash which makes me so happy! And her quality of life has improved astronomically!

The pharmaceutical company is continually working on new and improved medications of this type for those with CF who do not have the ge\ne for the current medicine to work

Bev
Bev, so happy to hear that your daughter is doing well on her new medication! Thank goodness she can remain on your insurance! ((((HUGS))))
"All his life he tried to be a good person. Many times, however, he failed. After all, he was only human. He wasn't a dog."

Charles M. Schultz
Quilter51
Posts: 2815
Joined: Sat Aug 29, 2015 6:04 pm

Re: Prescription Costs for older adults (and everyone)

Post by Quilter51 »

I would also add that some people think they can't (or can't ) afford part D. I cannot imagine not having the drug insurance part of medicare.
But honestly there are people in all ages of life who have prescriptions it's not just seniors. It's just that as we age we have more prescuritptions. I just went to using my mail order pharmacy portion of my insurance after having not used it since it's one third of the cost (12 bucks for 80 days as opposed to 12 bucks every month for one prescription). That said all of medical care and prescriptions should be affordable and conservatives (republicans) regularly vote again allowing Medicare to negotiate with drug companies on prices, including with the most recent bills where that language was removed.
floridacatlover
Posts: 8056
Joined: Fri Aug 28, 2015 7:21 am

Re: Prescription Costs for older adults (and everyone)

Post by floridacatlover »

If you retire before Medicare age, you will most likely buy insurance through Healthcare.gov (The Affordable Care Act; Obamacare). To get an idea of how much you might pay for health insurance and Rx as an early retiree, go to Healthcare.gov and put in your estimated taxable income without signing up or registering. You’ll see if you will get a subsidy, which plans are available in your area and your cost, deductible etc. I really recommend checking this out several years before you retire to get an idea because it might be a shock. There are typically HMOs and PPOs from several insurers. Many (or most) plans have high deductibles and they cover Rx.

You are right that Medicare isn’t cheap in many cases. Medicare Advantage plans which typically cover Rx can be less expensive but limit the hospitals and doctors you can use. Some people on Medicare with lower incomes qualify to use Medicaid as their secondary insurance (instead of buying a Medicare supplement) and their costs for doctor and Rx can be very low. This was my uncle and he had wonderful care.

I have always admired the Canada and UK universal health care systems but I see that there are downsides to those systems, too, and it all boils down to money IMO.
HappyDaze
Posts: 4186
Joined: Tue Oct 15, 2019 11:11 am

Re: Prescription Costs for older adults (and everyone)

Post by HappyDaze »

floridacatlover wrote: Sun Dec 05, 2021 3:37 pm If you retire before Medicare age, you will most likely buy insurance through Healthcare.gov (The Affordable Care Act; Obamacare). To get an idea of how much you might pay for health insurance and Rx as an early retiree, go to Healthcare.gov and put in your estimated taxable income without signing up or registering. You’ll see if you will get a subsidy, which plans are available in your area and your cost, deductible etc. I really recommend checking this out several years before you retire to get an idea because it might be a shock. There are typically HMOs and PPOs from several insurers. Many (or most) plans have high deductibles and they cover Rx.

You are right that Medicare isn’t cheap in many cases. Medicare Advantage plans which typically cover Rx can be less expensive but limit the hospitals and doctors you can use. Some people on Medicare with lower incomes qualify to use Medicaid as their secondary insurance (instead of buying a Medicare supplement) and their costs for doctor and Rx can be very low. This was my uncle and he had wonderful care.

I have always admired the Canada and UK universal health care systems but I see that there are downsides to those systems, too, and it all boils down to money IMO.
Florida, thanks! Do you know if they will base my subsidy on what I receive from my pension EACH MONTH - or from how much is AVAILABLE in my pension? If I were to retire in 5 years and live on $26K a year (doable), I could get a good subsidy - otherwise - the plans all cost hundreds and hundreds of dollars - and I am sunk. UGH.
"All his life he tried to be a good person. Many times, however, he failed. After all, he was only human. He wasn't a dog."

Charles M. Schultz
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