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Increase in Medicare Costs for Seniors
Since December 2003 when Bush approved the Medicare prescription Drug and Modernization Act, health care costs for seniors have become more expensive and more confusing. It appears that the only folks the law is helping are health care providers, insurance companies, and the prescription drug companies.
In 2005, Medicare premiums for Part A (doctor visits and other non-hospital expenses) will rise by 17%. Monthly payments will increase from $66.60 to $78.20. This follows an 8.7% increase in 2003, and a 13.5% increase in 2004.
Additionally, in 2005, deductibles will increase:
The U.S. Census Bureau announced in August that the elderly (aged 65+) had a median annual income of $23,048 in 2003. These increases in Medicare costs along with rising prescription drug costs will severely hurt senior citizens. The new prescription discount cards, in addition to being a total maze to figure out, will probably not save the elderly any money in the long run. Studies comparing card prices to Canadian prices, VA negotiated prices, and internet outlets revealed the card prices were considerably higher than Canadian costs, VA costs, and somewhat higher than the internet pricing. Even generic drug costs have skyrocketed.
Unfortunately, faced with a lack of funds, many senior citizens cut their pills in half or only take them every other day. If you are finding yourself forced to make a decision whether to buy food or pay for your medications, talk to your physician, or your local senior assistance center! It is vital that you take your medicines as prescribed!
More ResourcesPrescription Drug Assistance Programs
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