Seniors often pay $5,000 to $6,000 a year for prescriptions Medicare doesn't cover. Medicare Part D plans start at $13 a month and can cut those costs dramatically. Bill takes eight medications that cost $4,600 yearly, but Part D could slash that bill.
If you're like most of us over the age of 60, you're probably taking several different prescription medications, and the cost of these medications can be quite expensive. In fact, it's not unusual for many of us to be spending as much as $5,000 or $6,000 a year on our prescription medications. Unfortunately, Medicare does not cover the cost of these medications, which means that we need to pay for them ourselves out of our savings or our monthly income. Of course, most of us simply cannot afford to pay an additional $5,000 or $6,000 out of our annual retirement budgets. That's why there's Medicare Part D insurance coverage. For as little as $13 a month, a Medicare Part D insurance plan can cover the cost of our prescription medications and save us thousands of dollars every year. For example, Bill's doctor had him on 8 different medications. And the annual cost of his prescriptions totaled a little more than $4,600 a year. But—
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