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Prescription costs for Medicare recipients down

Posted by RHHAdmin on Sep 26, 2012 7:15:00 AM

Seniors who are on Medicare may have found that their prescription costs have dwindled in recent years.

According to USA Today, those receiving Medicare benefits have saved more than $4.5 billion on prescription medications since January 2011. Analysts are suggesting the healthcare law of 2010 has something to do with the savings.

"We're seeing consistent, steady savings for seniors thanks to the health care law," Jon Blum, director of the Center for Medicare, told the news provider. "In just two-and-a-half years, seniors have seen billions in savings, and those savings will continue to grow as the doughnut hole is fully closed."

However, The Associated Press reports seniors who are receiving Medicare benefits may want to look into other options for next year, as premium increases are expected to take place with most of the top Medicare prescription drug plans.

"The average senior is going to benefit by carefully scrutinizing their situation, because every year the market changes," Avalere president Dan Mendelson told the news provider. Avalere Health was the company that released the report.

While prescription costs remain in limbo, some seniors could be covered under Medicare for their home health care use, if a doctor suggests it's necessary.

Residential Home Health is a leading provider of in-home nursing and therapy care throughout Michigan and Illinois. In addition to home health care, Residential’s continuum of care includes Residential Hospice and Healthy Living Medical Supply. If you are interested in learning more about the home care services Residential provides, please call 866-902-4000 or visit www.residentialhomehealth.com.

Topics: Health News, Medication Management, Financial Health