How Medicare Supplement Insurance is Effecting CostsNovember 2007
As information regarding the effects of Medicare Part D begins to make its way to the public, new questions are arising about whether or not the program is helping the public as much as had been hoped. At the same time, the effects of health care costs and the growing use of unregulated, online prescription drugs is rapidly contributing to the need for
Medicare supplement insurance.
According to MSN Health, the 2006 introduction of the U.S. Medicare Part D prescription drug benefit increased the number of seniors' prescriptions by 158 million, at a cost of $32 billion to Medicare. Medicare Part D did increase the number of prescriptions used by the elderly and reduced their out-of-pocket drug spending - but not by as much as some might think. In fact, when prices went down for most seniors, this only meant that they could now afford to buy
more medicines that they needed, a consequence that reduced the amount that seniors were predicted to save.
What does this mean in the long run? That, as health care costs continue to rise,
medical coverage like Medicare supplement insurance is still a very good idea. This finding is compounded by another study, released at the same time, which finds that many, many Americans are ordering online prescription drugs in order to avoid getting another prescription from the doctor.
Facts on:
Online Prescription Drugs
Did you know...
According to the U.S. Food and Drug Administration, many of the online prescription drugs from abroad have generic equivalents that would cost American consumers less?
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U.S. health officials are warning that many Americans are buying these drugs over the Internet from foreign countries in an apparent effort to avoid the need for a prescription without realizing that there are generics available that can cost less than those same online prescription drugs, many of whom are dangerous and unregulated copies of very complex medications.
Instead of taking unhealthy risks with potentially dangerous medications, seniors who need more than Medicare Part D are encouraged to make healthy lifestyle choices, visit the doctor regularly, and ask for generic medications that can save money. It's also a good idea to have Medicare supplement insurance to cover many of the out-of-pocket costs that aren't part of Medicare coverage, particularly when so many of these new and expensive drugs are literally lifesaving.
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