Drug insurance companies doubling prices and adding new rules - check your 2016 formulary!

My drug insurance co., Silver script, sent me the new formulary. My monthly fee went down a whole dollar. But they've made a sneaky change to raise prices - adding a new "Tier." Nearly all my cheap tier 1 generic drugs at $7.00 are now classified tier 2 at $12.00. Other meds I checked went up similarly.

In addition meds like Valium (diazepam) now requires a prior authorization, and several meds, like Ambien, are limited to 3 month's supply per YEAR if you're over 65. Scopalomine patches are limited to 30 per year and require prior authorization. Zofran is $44.00.

My next step is to check other companies formularies. You can't trust insurances of any type to stay the same.

It matters some the price of the monthly fee, but the price of drugs can bankrupt you. Also, with the new requirements, don't let yourself run out of anything. Withdrawal is not a pretty thing.

I have a supplement, not an "all inclusive" policy. Best thing I ever did! Instead of $6700 out of pocket I pay about $2000. No copays.

Dental, eye and drug insurance arenot included in supplements, but they are cheap! Check prices at Medicare.gov. You can only get into a supplement when you first sign up for Medicare unless you are perfectly healthy, and if you're on this forum that's not likely.

I have Silver script also.I haven't received a 2016 Book yet.I've been pretty satisfied with them in the past.

I have the Top Plan,PMD,or whatever it is.I qualified for something called QMB and it pays my monthly fee for the drug coverage.

6 out of the 9 meds I take are Tier 1 and my cost is $0.

I also receive Extra Help from Medicare.

The most I pay for a Generic is $2.65 and $6.65 for Brand Name.

We'll see.

Thanks for the heads up.

Rick

Extra Help and Medicare Savings Program are based on income and resources.
So not everyone is eligible.