Millions Could Be Saved On Prescription Drugs…

If low income, elderly New Yorkers are given Medicare Subsidy, the state could save millions. Specifically $184 million could be saved every year on prescription drug spending for EPIC by arranging for lower income people with EPIC to get Extra Help – a federal subsidy that enables lower income people to pay for Part D of Medicare.

With the help of Medicare Part D there is a great chance to save millions of dollars on prescription drugs as well as help low income New Yorkers. This is a win-win situation according to Robert Hayes, president of the Medicare Rights Center.

By expanding the Medicare Saving Programs eligibility through different levels, New York State can achieve great savings. If the Medicare Savings Program income criteria were aligned with the EPIC fee program and the Medicare Savings Program asset test were eliminated, a minimum of 157,000 low income New Yorkers who are part of EPIC would qualify for Extra Help.

EPIC results in a reduction of consumer drug copays and covers drugs not on Medicare private drug plans formularies and covers restricted drugs filling a gap in the coverage that is known as the “doughnut hole”