Although Medicare Part D provides a good amount of coverage and assistance when it comes to prescription drugs, it’s not all-encompassing. It can be troublesome for some beneficiaries because it includes a monthly premium that you will always have to pay, whether you are using prescription drug coverage or not. The premium even remains in force when you reach the “donut hole,” meaning that if you need many prescriptions over the course of a year, there might be a time when you are paying a monthly fee for coverage you are effectively not receiving. Yikes! That can be a problem!
The biggest issue that most Part D recipients will have is with the “donut hole.” But sometimes, even the monthly premium can be problematic. True, there is a premium involved with virtually every Medical Insurance product that you might buy. But in the case of Medicare Part D — because it is considered a separate, supplemental program to Part A and Part B — the premium can be quite onerous. If you have trouble paying your premium, you can start by doing whatever is possible to reduce your other medical expenses. For example, you can ask your doctor about less expensive prescription drugs.
However, you do not need to wait until your premium becomes a problem before you look for assistance. Whether you have Medicare Part D or are only enrolled in the other parts of Original Medicare, you might still have options for getting help. Generally, you will have to reach out to a charitable organization in your state that will provide you some benefits on the basis of your need. State Pharmaceutical Assistance Programs are often operated by or in cooperation with state governments. Through additional benefits at the state level, you could pay less in premiums for your Part D.
Medicare premiums can represent a serious hardship for those who are in the most need of financial assistance. Thanks to State Pharmaceutical Assistance Programs, you may be able to maintain your full Medicare Part D coverage even if you do not have a great deal of money or other resources. Remember that although it can be difficult to make monthly payments, you are almost always better off with Part D than you would be if you had to pay for the same medications out of pocket. All in all, every Medicare recipient will see some savings at the end of the year.