This is especially important for low-income seniors. According to HHS, seniors are currently the only group of Americans that often pay full price for drugs. This Medicare-approved drug discount card program is expected to provide savings on prescriptions by pooling the purchasing power of seniors.
A press release from HHS says that Medicare beneficiaries can expect:
- Discounts of up to 18 percent off the average retail prices for name brand drugs
- Discounts of between 30 and 60 percent on generic drugs
- Mail order and Internet discounts through the cards offer savings of up to 24 percent from comparable services
In addition to the discounts, low-income beneficiaries can qualify for a $600 credit this year to help pay for their prescription medicines and another $600 in 2005.
Any money from the credit not spent this year will carry over into 2005.
For millions of low-income beneficiaries, this could mean savings of 30 to 70 percent or more off the cost of prescription drugs.
All people with Medicare who do not receive prescription drug coverage through Medicaid are eligible for a Medicare-approved drug discount card.
Medicare beneficiaries whose incomes are below 135 percent of the federal poverty limit ($12,569 for singles and $16,862 for married couples) and do not have other certain types of prescription drug coverage are eligible for the $600 credit.
For more information on the Medicare drug discount cards, call the 1-800 MEDICARE helpline (1-800-633-4227) or go online to www.medicare.gov.
