How will your retail pharmacy discount work with your Medicare drug coverage?:QuickMedicareSupplement.com

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How will your retail pharmacy discount work with your Medicare drug coverage?

How will your retail pharmacy discount work with your Medicare drug coverage?

If you enroll in a Medicare drug plan, you will have right of entry to a long list of prescription drugs at discounted prices, but you can still gain from retail pharmacy programs (e.g. Wal-Mart, Target, K-Mart and other retail programs that cover selected generic drugs for $4, etc.).

For instance, if you have a Medicare drug plan that charges 25% coinsurance and you use the Wal-Mart pharmacy, you will have to pay only $1 (or 25% of $4) for the generic drugs covered by the Wal-Mart program. You will pay $4 for these medications if you are meeting a deductible or are in the coverage gap.

It is significant to realize that these retail pharmacy programs do not cover all generic drugs nor do they normally cover any brand-name drugs, many of which do not have generic versions presented. In addition, while you have the choice of getting your drugs at a number of pharmacies or by mail-order under the Medicare drug coverage, the retail pharmacy programs normally apply only to covered generics obtained at the retail pharmacy and not available through your Medicare drug plan's mail-order alternative.

Enrolling in a Medicare drug plan will give you access to a bigger list of prescription drugs at cut-rate prices in case you require a prescription drug that is not on a limited list of specially discounted generic drugs offered by a retail pharmacy. You will still benefit from discounts for preferred generic drugs purchased at these retail pharmacies presenting these special prices, however you will have broader coverage as well.

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