Health and Human Services Secretary Mike Leavitt had stated that the current administration is committed to protecting and expanding the Medicare Advantage program.
The Medicare Advantage program provides more coverage to current medicare users through more coverage and options. Those additions in the medicare advantage program include:
- Medicare Health Maintenance Organization (HMOs)
- Preferred Provider Organizations (PPO)
- Private Fee-for-Service Plans
- Medicare Special Needs Plans
The government current spends roughly $12 million more on the estimated 9 million medicare advantage users. The democrats would like to see medicare advantage spending lessened and a transfer of those dollars to a wider user of medicare insurance period.
Each of the republican presidential candidates seems to have quite an opposing view of the future of Medicare should they be elected to the oval office. Here’s the breakdown of each of the front-runner’s opinions:
Mike Huckabee
- Tax deductible insurance premiums
- Using individual states as “laboratories” to conceive new ideas for private market initiatives to keep costs down
Mitt Romney
- Encourage states (on their own) to develop their own unique plans to cover the uninsured
Fred Thompson
- Strong advocate of prevention methods in medicare delivery
- Open market competition is a priority
Rudy Giuliani
- Wants a $7500 income tax deduction per taxpayer to offset insurance costs
- Additional tax credit for low-income workers to help with costs
John McCain
- Provide a $2500 tax credit for individual and double that for families for medicare costs
- Allow for an easier import of Canadian drugs for all Americans
- Push towards generic drugs to lower costs
Sometimes the costs of prescription drugs can be overwhelming. If you find yourself in a coverage gap or just looking to lower the monthly bills for prescription drugs these 3 steps will be essential in assisting you.
Generic Over the Counter Drugs
Look for generic over the counter drugs or lower cost brand name options. There are alternatives available and with your doctor’s advice on a lower cost alternative you can help save on the regular drug costs per month.
State Pharmaceutical Assistance Programs
Some states will help with paying drug plan premiums and and other costs. There are currently 21 states that offer this service and the full list can be found here, SPAP 2008.
Medicare: Apply for Extra Assistance
With some income and resources you can verify if you have access to additional help in paying for drug related expenses. Contact Social Security to find out more at 1-800-772-1213 or by visiting www.socialsecurity.gov.