Drug Coverage Costs

Medicare Drug Coverage

Medicare drug coverage is known as Medicare Part D. The coverage is provided by private insurance companies with Medicare paying a portion of the costs. Sign up as soon as you’re eligible—if you don’t, you may have to pay a late enrollment penalty later when you do enroll. Be sure the drugs you need are on the Part D plan you select or you could face thousands of dollars in out of pocket costs.

Non-Medicare Drug Coverage

For those not on Medicare, most insurance plans will cover prescription drugs; however, the copays, deductible, and out-of-pocket maximums can vary from policy to policy, and year to year. Check your drug coverage at every renewal for changes in coverage in the event that you have some choice in the coverage.

Assistance with Drug Costs

Most brand name drugs will have some type of copay assistance program offered by the manufacturer that reduces the cost of the drug to typically under $50. You may need to do a web search to find the program for the drug you are considering. These plans may have little or no income verification but in general are not available to those on Medicare. You may also find additional financial support for medication and care through private foundations. One such program providing foundation assistance specifically for NET patients is the Lois Merrill Foundation. For generic drugs, and limited brand name drugs, you may wish to use a program like GoodRx that may provide the drug at a lower cost than what your insurance will provide. You just have to be sure you don’t use Medicare to pay at the same time. NeedyMeds is a 501(c)(3) national nonprofit that connects people to programs that will help them afford their medications and other healthcare costs.