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Canadian
Firm Brings Clarity to Medicare Part D
The Government Medicare part D plan is confusing a lot of seniors.
Sometimes it takes an outside perspective to bring clarity to complicated
issues. The explanation this Canadian Pharmacy came up with, has
helped their clients understand it better.
Vancouver
BC (PRWEB) December 23, 2005 -- Dwain Berlin, spokesman for Professional
Services Canada says his group noticed a basic common denominator
in Medicare part D, and set about explaining that concept on their
website. As a Canadian Pharmacy exporter, they hear a lot of complaints
and concerns about Medicare part D.
The
magic figure is $2250 (for insured medications) If that is the exact
amount spent on covered prescriptions, then the savings is about
52%. Savings drop dramatically as expenses go beyond (or are less
than) that magic number.
To
help their own clients, the company devised a simple graph. The
idea is to replace the numbers on the Medicare part D graph with
personal expenses to fit the situation. There is also a three minute
video on their website to help explain the concept. Medicare
Part D Look for the Video Icon to view it.
What
they noticed was the specific dollar amount where the best savings
are. The farther away your expenses are from that ideal figure,
the less the overall savings will be with Medicare part D. It is
important to calculate the savings over a full year and exclude
any drugs that are not covered in the plan, to come to a true savings
amount.
This
explanation gives a fresh look at the Medicare part D plan and helps
create a foundation to view the plan from. Many of their clients
had positive comments about the clarity of the explanation and were
thankful for the help.
There
is actually quite a large area where Medicare part D is lacking
overall effectiveness.
For
example; If the insured medications cost less than $1200 each year
and monthly premiums are $35, overall savings will be about 16%.
Another
example; If insured medications cost more than $2250 within the
year, that is the doughnut hole where there is no coverage up to
$5100. Savings diminish rapidly after the $2250 mark.
The
break away point is $2250. If there is exactly $2250 spent on insured
medications the savings are about 52% according to Professional
Services Canada.
The
significance of that figure becomes even sharper because it only
applies to pills that are insured in the Medicare part D plan. Some
prescriptions are not covered in all plans. Read the fine print
and connect the dots with personal medications.
The
best way to calculate the savings is to work it out over the year.
Add
the deductible, the monthly premiums, and the 25% not covered. (up
to $2250) Subtract it from the local retail amount, and that will
show the savings.
If
full retail prices can not be avoided on some medications, see if
it’s available from Canada. If that medication is available from
a Canadian Pharmacy, the savings can be quite a bit and will increase
the overall annual savings.
Call
and ask for a price quote. The average savings range from 30% -
40% on expensive medications, and in some cases as high as 50% There
are two scenarios where a Canadian Pharmacy service will be a benefit.
1)
If expenses are higher than $2250 each year, the doughnut hole can
be avoided by using a Canadian Pharmacy, and
2)
If expenses are less than $1200 each year, savings can be significantly
higher by using a Canadian Pharmacy service exclusively. (Rather
than Medicare part D)
Contact
Information:
Dwain Berlin
Professional Services Canada
#1 Flynn Court
Port Moody BC Canada
V3H4W1
1-800-946-4820
Medicare
Part D
