Often times, individuals and families have difficulty finding a prescription drug plan that is affordable and dependable. Cost is often times the deciding factor, but other factors need to be considered when making this crucial decision.
Here are a few tips on selecting a prescription drug plan that is best for you and your family. One mistake that people tend to make is just looking at premiums. You must also factor in deductibles, co-payments, as well as the pharmacies that are affiliated with the prescription drug plan of your choice. The premium is the cost you pay monthly to join a drug plan, while the deductible is the amount you pay for prescriptions before the plan starts. Some plans may or may not have a deductible. The copayment is the amount you pay for your prescriptions after paying a deductible. Often, you pay a set amount or a percentage of cost for any prescription, while other plans my have different costs due to generic or brand name prices. It is also important to really understand the coverage gap. One very useful online tool to take advantage of that will help you find a prescription drug plan: Medicare.gov is a site that will help you do just that. So take the time to consider all factors when choosing a drug plan that is best for you and your family.
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