If I just told you my Medicare Part D drug plan coverage increased by 94%, I don’t think you would fully understand the severity of it all until I showed it to you. So, here goes:
What to do? Change coverage. Again. Starting October 15th, I have to seek out yet another medical plan to cover my medications in retirement. This is my 3rd year in Medicare land. What’s twenty years going to look like? When I first took out this plan three years ago when I turned 65, it was only $18 a month. I don’t take many meds so the plan worked for me. Then the cost doubled to $35. Now, it is doubling again to $69 plus there is a change in the 30 day drug coverage. And I’m not even sick nor ill. Yet.
When you are retired and on a fixed income, how do you deal with all of these increases? I am positive now that when the financial advisors recommend you have at least $260,000 cash, in savings, just to cover your Medicare insurance and co-pays, they’re not kidding!
Thankfully, I found another plan that covers my current meds bringing me back to the original $18 a month cost and a similar, low cost co-pay. Only glitch is that I can only get my prescriptions filled at Wal Mart. Oh well. I have no idea what the future will be.
And so goes another day in the life of a Mad Retiree.