How to save half when you are not "low income"

A lot of people are in a real bind because of mis-information from Medicare and their insurance companies about Medicare Part D. There are ways to avoid having to pay thousands into the "donut hole".
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How to save half when you are not "low income"

Postby 1DayAAT » Fri Oct 27, 2006 5:43 pm

If you have a moderate or high income then Medicare LIS will not help you through the donut hole.

Most of us are not very low income but we still do not want to pay the thousands of dollars into the donut hole.

Not to worry... There is a way out that can easily save you half or more on your prescription prices while you are stuck in the hole.

NOTE: This is for people who do not have HUGE drug bills that will carry them through the donut hole and into the catostrophic Medicare Part D coverage area. So basically if you are going to quickly throw $2,850 into the donut hole and have a lot more expenses after that... then do not use this method.

The first thing to realize is that most insurance companies have inflated the drug prices. This makes their co-pays appear to save you much more money than truth. When you hit the donut hole then you are charged these inflated prices... almost always much much more than someone with no insurance would pay at the same pharmacy. You cannot just ask the pharmacist to charge you the regular price... they must charge the higher price that the insurance company negotiated.

So... call around and find the best price for your drugs for a person without insurance. Go to a pharmacy where you have not identified yourself as having Medicare Part D insurance... and pay the cheaper price. One of my drugs cost exactly 1/4 as much when bought this way.

Next, check out reputable foreign pharmacies (or there actually are American companies selling foreign drugs now) and compare prices. It is very common for the price to be much much lower than standard pricing in the U.S. It is extremely lower than the inflated Part D insurance pricing.

Two easy steps and you will pay less than half than what you would if you bought the drugs legitimately through Medicare Part D insurance.

NOTE: Why I said this is not good for people who will reach far into the catastrophic coverage area of Medicare Part D... is that none of the drugs purchased in this fashion count towards fulfilling the $2,850 donut hole gap.

NOTE: Buying foreign drugs is illegal so definitely do not do that!
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Re: How to save half when you are not "low income"

Postby jimithy » Wed Aug 10, 2011 9:13 pm

updated and checked for broken links. 8/10/2011 by jimithy
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