Major drug manufactures have been pressured by the Obama administration to sign off on a plan to offer Medicare enrollees who have reached their coverage gap, also known as the “doughnut hole,” with savings on brand-name prescription medication. The full story is covered in yesterday’s PharmaTimes, the major independent monthly for the pharmaceutical, biotechnology and health care industries.
While it is positive that American seniors struggling with the highest prescription drug costs in the world will see some relief, it is also true that this announcement will not make a significant difference for most American prescription buyer’s because even with this plan the high cost of drugs will still be prohibitive to those who currently struggle to budget for them. Right now enrollees in Medicare part D, the federal health insurance program for seniors, hit their doughnut hole when they reach an out-of-pocket drug cost of $2830 for the year; the plan kicks back into action when these out-of-pocket exceed $4550.
Canada Drugs, Canadian Pharmacy, has for over a decade helped Americans struggling with high drugs costs have an affordable option to maintain the drugs that they need. Post-Medicare Part D we have still been able to save our customers much more than they could by just opting for the government and Big Pharma endorsed plan.
With the cooperation of several dozen of our patients we studied their costs under Medicare and the potential impact of closing the doughnut hole and what it would mean for their actual out-of-pocket drug expenses, because we recognize that every extra dollar spent on prescription drugs is a dollar that has to be cut back somewhere else by seniors on fixed incomes. What we found by working with our patients is that in all but one case of the ones we studied, is that they would save substantially more money by ordering their medication through our Canadian online pharmacy, even while purchasing the most minimal Medicare Part D drug plan to ensure they could avoid penalties imposed by the government for not opting in.
For example one of our customers named Jane was a regular CanadaDrugs.com customer before the implantation of Medicare Part D in 2006. After the program took effect she ordered her prescriptions through her Medicare Insurance Provider: Secure Horizons. From 2006 to the end of 2008, she spent approximately $1300.00 out of pocket on an annual basis in prescription and Medicare costs. By working with Canada Drugs on a Personal Savings Strategy involving Medicare and smart shopping with us she was able to lower her spending to $760 a year. Thus her total out-of-pocket savings was $540. That five hundred dollars she saved with Canada Drugs could be spent on home repairs or an extra trip to see her grandchildren. We are proud that our savings can make a difference in our customer’s lives!
Her example is below:
How to Order
Another example of how to save money with Canada Drugs is demonstrated by our patient Mr. Stefani, who agreed to share his costs and savings with Canada Drugs.
Mr. Stefani is another customer who ordered regularly through Canada Drugs before January 2009 when he began using the Medicare Prescription Drug Program. Since then, he has been spending nearly $6,600 out of pocket for his prescriptions annually.
Mr. Stefani reaches the “Catastrophic Phase” of the Medicare Prescription Coverage where he enjoys the benefit of only paying 5% of his prescription costs. However, the cost to reach this benefit during the coverage GAP is far more expensive than if they ordered through Canada Drugs for the entire year.
During the coverage GAP where he pays 100% out of pocket locally, Mr. Stefani spends over $5000.00 until he reaches the Catastrophic Phase in September. If his total out of pocket a cost for 2008 was about $6600.00, the majority of that cost occurs during the coverage GAP. The total cost to order though Canada Drugs annually would have been approximately $4000.00 which is $1000 less than the GAP cost and $2500 less all together. That’s $2500 that could have stayed in his pocket.
Mr. Stefani and his wife are now ordering again through Canada Drugs and saving more than they have been through the Medicare Prescription Drug program. Canada Drugs also ensured that Mr. Stefani remains on his Medicare plan in case his situation changes and he needs “emergency coverage” which he now has.
|Mr. Stefani’s Total out of pocket Medicare cost for 2008:
|Annual out of Pocket costs Through Canada Drugs:
|Annual Medicare Premium:
|Canada Drugs Balanced Prescription Strategy Costs:
|Annual Savings through Combined Strategy:
This Chart shows Mr. Stefani’s monthly costs before the Balanced Canada Drugs strategy in Blue.
The monthly costs after our strategy are indicated in Purple.
If you want to learn more about how to avoid falling into the doughnut hole trap and saving big money with Canada Drugs, please give us a call at 1-800-CAN-DRUG. Our trained Patient Service Representatives can work with you find the right way to maximize your savings.