Drug "Not on Formulary"
When you do a drug plan search on the medicare.gov website, sometimes the insurer may state that your drug is "not on the formulary". In such a case, you will pay "retail" price and the payment will not count toward your $2250 total retail drug costs--that is, it will not help you reach the gap or get through the gap. One individual that I helped was paying cash for his drugs and was using two drugs that were "not on the formulary" of any carrier. The so-called "retail" price that the carrier was charging for this drug was almost $12.00. The individual who had been paying cash had been paying almost $100 for the drug. We took the printout from the website to the pharmacist and he said, in effect, there are two "retail" prices: one is for cash paying customers, which can be up to ten times the "retail" price that the pharmaceutical company charges the pharmacy. Just by joining a plan, this individual will save $85 a month even if the drug is not on the carrier's formulary. Figure that!!!!
posted by Ed Maxwell @ 2:38 PM
1 Comments:
Ed got your comment on my blog recovery2000.blogspot.com
concerning deducting premium from your check Yes many of the plans allow you to have automatic deduction from your checking account or you Most of my disabled peers on a limited income already cannot afford any other expense so an automatic payment insures that they have meds even when in mania or psychosis and not able to make that callAll this goes thru CMS anyway so you would have more recourse I think if they deduct rather than you forgot to pay. These are private plans.I would happy to have you as a contributor my blog at http://recovery2000.blogspot.com
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