Medicare Beneficiaries May soon Be Able to See Lower Drug Prices if Prescription Drug Imports Are Approved by Lawmakers
It has been a long-running bipartisan effort to ease restrictions on importing low-cost prescription medications into the U.S. However, as lawmakers appear to be making progress, they will still have to overcome rigid obstacles, including the Obama administration and the U.S. pharmaceutical industry, according to the Associated Press.
As the Senate debate over healthcare reform wears on, it appears that the new healthcare bill may cost the nation nearly $3 trillion. While the bill would provide healthcare coverage for nearly 30 million Americans, many Medicare beneficiaries and healthcare providers worry that the bill would result in higher healthcare costs and reduced government reimbursements. As such, the ability to import low-cost prescription medications would be a welcome relief to many Americans already struggling to afford the high costs of their medications and healthcare plans.
Obama supported allowing Americans to import low-cost prescription medications from abroad during his presidential campaign. However, he now needs the full support of the U.S. drug industry in order to push the healthcare bill through, concerning many who worry that the President will now renege on another of his campaign promises. Moreover, the Food and Drug Administration has expressed concern over the safety of imported drugs.
Medicare beneficiaries may be able to see some relief in the cost of their prescription medications if they enroll in Medicare Supplement insurance or Medicare Advantage plans. With an array of Medicare options available to beneficiaries, it is important for Medicare beneficiaries to review their options to ensure that they have the most appropriate healthcare plans for their specific needs, including their pharmaceutical needs.
If you are interested in learning more about options provided by different Medicare Advantage plans and programs, contact a Medigap Medicare Advantage insurance specialist for more information today at 866-323-1441.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.