Medicare’s prescription coverage gap, known as Medicare’s “Donut Hole”, is trying to reduce the gap by giving seniors a discount on their prescription drugs. Starting January 2011, consumers who pay the full cost of prescriptions up to $4550, will start to receive a 50% discount when buying Medicare covered brand-name prescription drugs, and a 7% discount on generic brands. This kind of savings comes in handy when on a fixed income. Check with your local Medicare provider for more details.
For those looking for more ways to save, install a medical alert system in your home instead of moving to a retirement community. A medical alert system is much more cost effective as seen with Life Alert’s 36 month membership which is less than 1 month’s rent in a retirement institution. With that kind of savings you can buy a whole lot of donut holes, and the donut too.
