SAVING With Medicare's Prescription: Drug Benefits
Vera Moulton takes a lot of prescription medicine, and says, "Two or three are on the expensive side." That's why the retired bookkeeper and 33-year-member of the Excelsior Chapter in Enid, OkIa., signed up for a Medicare Prescription Drug Discount Card. The cards became available in May 2004 under
The cards are part of a voluntary, temporary program that is scheduled to be replaced by a permanent plan called Medicare Part D on Jan. 1, 2006. Under the current system, Medicare participants, except for those with outpatient drug coverage through Medicaid, may choose to purchase a card from one of 28 private companies that offer them. The maximum annual enrollment fee is $30. On average, savings vary between 10 percent and 15 percent on specific medicines.
Vera's card, for example, saves her approximately $30 every six weeks, so she recouped her enrollment fee in the first two months on the plan. "The discount does help," she says. "It's better than the 10 percent senior discount my pharmacy offers."
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