Everyone over the age of 65 must have some kind of approved prescription drug coverage in place. Currently, the Centers for Medicare expect that the monthly Part D coverage will raise by $1 to $32 per month. While the cost of Part D is fairly inexpensive, it does affect those of us on fixed incomes.
Still the bigger picture is showing that Part D is saving seniors nearly $1,500 per year on the cost of their prescriptions. Even with that news there are expected to be big changes in the future.
The future of Prescription drug coverage is pretty much assured, though the cost of that coverage could be impacted by the rising cost of "star" medications such as the drug Sovaldi, which is used to treat or cure Hep C. A remarkable drug, but it is priced at $1000 per pill.
According to the U.S. Department of Veterans Affairs, 1 in 50 Americans have Hep C. They also list Baby Boomers as being a group who have the highest rate of Hep C. Those two statistics spell trouble for Medicare D. If the price of Sovaldi remains at $1000 per pill then then impact of treating seniors with Hep C is likely going to drive up the cost of Medicare Part D.
Historical Healthcare before Medicare D
There was a time just ten years ago where some seniors had to make a choice between buying food and buying medicine. That was before Medicare Part D became part of the Medicare platform. The cost of healthcare was so high that some seniors were not able to afford the basic standards of living.
All of those factors mean that Medicare part D will need to grow and change. Health care is expensive when you are on a fixed income. Programs like Part D help to keep health care costs for the average senior as low as possible.
Moving forward it is important that people understand the importance of programs such as Part D coverage and the benefits that it provides to seniors. The next big hurdle will be on how to deal with super drugs such as Solvadi. If you have questions about Medicare part D or any of the prescription drug plans offered by the Advantage plans, just call us. Connect One Health is here to answer your questions.