Where Penny-pinching Meets Life & Death
Cutting health care expenses can be achieved without cutting doses and doctor visits – here’s how!
In difficult financial times, those with fixed or limited incomes are often the first to feel pains in the pocketbook. And when the going gets tough, the tough might think it’s OK to save by forgoing prescription drugs and health care.
“I think we do see that any time the economy goes down like it has right now, older Americans tend to cut back on their health care,” says Jordan McNerney, health media relations manager for AARP. “They’re the people that use the most health care and so they’re the ones who are able to cut the most back. That doesn’t mean they should.”
In a December 2008 AARP survey of more than 1000 Americans 45 and older, nearly one-fifth said they are either not very or not at all confident that they will be able to afford medical care in the next year. Further, 15 percent said they have had to cut back on taking medications or filling a prescription because they could not afford to pay for it.
Dr. Marie Bernard, deputy director of the National Institute on Aging, Bethesda, Md., says stretching, skipping or sharing prescriptions, or cutting out on doctor visits, can put you at more risk than you might think.
“I’ve seen people unfortunately die as a result of not taking advantage of the health care system and appropriate follow-ups,” she says.
McNerney points out that skipping care or prescriptions can lead to a need for more serious treatment, which will be more costly in the long term. Instead, it’s important to look for safer ways to reduce costs.
SAFE WAYS TO SAVE ON HEALTH CARE
Find Ways to Stay Insured
“The biggest thing is to make sure that if at all possible you can keep your health insurance,” McNerney says. “If you’re not 65 yet and not on Medicare, this is where folks are really affected. We see that between 50 and 64 is where a lot of people lose their health care, whether it’s because they are laid off from a job, they choose to start a small business, they start freelancing, and so they lose employer coverage but they aren’t yet covered by Medicare. And so anything you can do in that period of time to keep you insured is going to reduce your costs.”
But despite your best efforts, McNerney acknowledges that maintaining insurance may not be an option. If you do lose your health insurance, he suggests looking into COBRA, a government program that allows you to keep your employer-based coverage.
“And now under the stimulus package that passed earlier this year, if you need COBRA you’re going to be able to get a subsidy for some of that premium so that’s going to keep your costs down,” he adds.
Evaluate Your Current Coverage
“You can always shop around for health insurance,” McNerney says. “We especially encourage this with people on Medicare. Every year they have a chance to change their prescription drug plan, but we find that a lot of people just don’t bother to shop around and look for a plan that might be better for them. That might include giving you better coverage or a lower premium while still giving you the same type of coverage you have now. Shopping around for care is worth it.”
Know What’s Out There
According to McNerney, there are many assistance programs available for a variety of health care concerns. If you are on Medicare, pay a visit to www.medicare.gov to see if you are eligible for low-income subsidies.
On the AARP’s Web site, www.aarp.org, you can look under the “Tools” for the organizations Benefits Quick Link.
“It looks for lots of different assistance programs, public and private, and it’s not just for health care, it’s for energy costs, housing, but all kinds of different things,” McNerney says. “You plug in some basic information about yourself, your income and where you live, and it will kick back all of the different programs you might qualify for.”
SAFE WAYS TO SAVE ON PRESCRIPTIONS
Opt for the Larger Doses
Dr. Edward Langston, past chair of the board of trustees of the American Medical Association, suggests asking your doctor if your prescription is offered in different dosage options, such as 20 mg tablets or 40 mg tablets. If so, you should ask your doctor if it is possible to prescribe the larger dose, even if you only need the 20 mg tablets.
“Sometimes you can actually split the pill and it will cut costs in half,” he says. “Because a lot of times the cost of a medication is determined by manufacturing costs rather than ingredient costs. It doesn’t work on all medications but it’s worth asking about.”
Consolidate When Possible
“Work with your doctor or doctors to make sure you’re not getting two of the same medication,” Bernard says. “Make sure there’s not one medication that might be given for two reasons. Many times medications for high blood pressure and heart problems, it’s the same medication that can be prescribed for both conditions.”
Go Generic
“Talk to your doctor about switching to generics – that’s a huge money saver if you’re taking any brand name drugs,” McNerney says. “If you need to, you can talk to your pharmacist. In a lot of states they can switch you to a generic as long as your doctor hasn’t said specifically that you need the brand name.”
Langston said it’s very common to have this conversation with your physician.
“In my practice, that comes up all the time. I’m a pharmacist as well, and we do know that if there is a medication that the FDA says is a Type-A bio-equivalent, there is the opportunity for them to take the generic medication and I would encourage that.”
In fact, no matter how you decide to save on care or prescriptions, it is vital to be completely honest with your doctor. Being untruthful about how you are caring for yourself makes it hard for your doctor to monitor your care, he says.
“Don’t feel that it is inappropriate. I would urge you to not feel guilty and talk to your doctor about it. From a physician’s perspective, I need to know what you’re taking.”
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