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When it comes to managing your health, one crucial aspect is being able to afford the medications you need. For those who are Medicare beneficiaries and are prescribed Eliquis, a popular blood thinner, understanding the cost under Medicare is essential. Here are 10 key things to know about Eliquis price under Medicare:
1. Medicare Part D Coverage: Eliquis is typically covered under Medicare Part D, which is the prescription drug coverage that helps beneficiaries pay for their medications. It is important to check with your specific Part D plan to see if Eliquis is on the formulary and what your out-of-pocket costs will be.
2. Tiered Pricing: Medications under Medicare Part D are often placed into different tiers, which can affect how much you pay for them. Eliquis may be placed in a higher tier, which means you may have to pay a higher copayment or coinsurance for it.
3. Generic Options: Currently, there is no generic version of Eliquis available in the United States. This means that if you are prescribed Eliquis, you will likely be paying the brand-name price for it.
4. Cost-Sharing: Medicare beneficiaries are responsible for paying a portion of the cost of their medications, even if they have Part D coverage. This can include copayments, coinsurance, or deductibles, depending on your specific plan.
5. Extra Help: If you have limited income and resources, you may qualify for Extra Help, which is a program that helps Medicare beneficiaries with their prescription drug costs. This can significantly reduce the amount you pay for Eliquis.
6. The Coverage Gap: Medicare Part D has a coverage gap, also known as the 'donut hole', where beneficiaries may have to pay a larger share of their medication costs. If you reach this coverage gap, you may be eligible for additional savings on your Eliquis.
7. Manufacturer Assistance: Bristol-Myers Squibb, the manufacturer of Eliquis, offers a savings card for eligible patients that can help reduce the cost of the medication. This can be used in conjunction with your Medicare Part D coverage.
8. Comparing Plans: It is important to review your Medicare Part D plan each year during open enrollment to ensure that it still meets your needs and provides adequate coverage for your medications, including Eliquis.
9. Pharmacy Discounts: Some pharmacies offer discounts or savings programs for certain medications, including Eliquis. It is worth checking with your pharmacy to see if you can save money on your prescriptions.
10. Seeking Assistance: If you are having trouble affording your Eliquis medication, don't hesitate to reach out to your healthcare provider or a Medicare counselor for assistance. There may be resources available to help you reduce your out-of-pocket costs.