Vancouver BC (PRWEB) December 27, 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)
Professional Services Canada
#1 Flynn Court
Port Moody BC Canada
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