NuStar Insurance Agency, Inc.
  • Home
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Blog
    • News
  • Medicaid
  • Quotes
    • Health Quotes >
      • Medicare Advantage Plan Quote
      • Medicare Supplement Coverage Quote
      • Part D Prescription Drug Plans Insurance Quote
      • Dental Insurance Quote
      • Health Insurance Quote
      • Critical Illness Insurance Quote
      • Long Term Care Insurance Quote
      • Vision Insurance Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Classic Car Insurance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Workers Compensation Quote
    • Life & Financial Quotes >
      • Life Insurance Quote
      • Annuity Quotes
      • Disability Insurance Quote
      • Final Expense Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
      • Travel Insurance Quote
      • Wedding Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Policy Review
    • Contact My Carrier
    • Online Documents
    • Free Consultation
  • Insurance
    • Health >
      • Medicare Options
      • Medicare Advantage Plans
      • Medicare Supplement Coverage
      • Part D Prescription Drug Plans Insurance
      • Dental Insurance
      • Health Insurance
      • Critical Illness Insurance
      • Long Term Care Insurance
      • Vision Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • RV Insurance
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Workers Compensation
    • Life/Financial >
      • Life Insurance
      • Annuities
      • Disability Insurance
      • Final Expense Insurance
      • Financial Planning
      • Umbrella Insurance
    • Other >
      • Event Insurance
      • Travel Insurance
      • Wedding Insurance
  • Contact
  • Home
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Blog
    • News
  • Medicaid
  • Quotes
    • Health Quotes >
      • Medicare Advantage Plan Quote
      • Medicare Supplement Coverage Quote
      • Part D Prescription Drug Plans Insurance Quote
      • Dental Insurance Quote
      • Health Insurance Quote
      • Critical Illness Insurance Quote
      • Long Term Care Insurance Quote
      • Vision Insurance Quote
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Classic Car Insurance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Workers Compensation Quote
    • Life & Financial Quotes >
      • Life Insurance Quote
      • Annuity Quotes
      • Disability Insurance Quote
      • Final Expense Insurance Quote
    • Other Quotes >
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
      • Travel Insurance Quote
      • Wedding Insurance Quote
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Policy Review
    • Contact My Carrier
    • Online Documents
    • Free Consultation
  • Insurance
    • Health >
      • Medicare Options
      • Medicare Advantage Plans
      • Medicare Supplement Coverage
      • Part D Prescription Drug Plans Insurance
      • Dental Insurance
      • Health Insurance
      • Critical Illness Insurance
      • Long Term Care Insurance
      • Vision Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • RV Insurance
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Workers Compensation
    • Life/Financial >
      • Life Insurance
      • Annuities
      • Disability Insurance
      • Final Expense Insurance
      • Financial Planning
      • Umbrella Insurance
    • Other >
      • Event Insurance
      • Travel Insurance
      • Wedding Insurance
  • Contact

News & Updates

Medicare and Drug Prices, the Awful Truth

10/14/2021

0 Comments

 
Picture
Now that the 2022 plans and prices are available on Medicare.gov we have an opportunity to see what Medicare reports as the retail price on prescription drugs.  Every year we find new and exciting examples of seniors being taken advantage of through pharmaceutical over pricing.  Remember that the Retail price reported by Medicare is the retail price of the drug reported to them by the pharmaceutical company.  Medicare is not allowed to question that price, shop that price or offer alternative pricing.  This is the law passed by congress that took effect in 2006 and was written with the help of the pharmaceutical companies.

There have been attempts to allow the government to negotiate on behalf of seniors but there is a strong lobby protecting special interests.  All attempts to change the status quo have failed for 15 years.  A recent example is Levothyroxine Sodium which is the generic version of Synthroid.
​
Picture
The Medicare price for 30 pills is $152.48 but a check of GoodRx shows that you can get the same number of pills for $4 at Walmart.  Why is Medicare 38 times higher that the street price?  Seniors who don't shop their drugs will be taken advantage of by their government.  Medicare has many rules in place to protect seniors but they fall short where big pharma is concerned.  Caveat Emptor is the lesson here - let the buyer beware or more appropriately be aware.  Know the street price of your drug before you go to the pharmacy.  Be prepared to demand a fair price even if it means paying cash instead of a copay.  When paying cash  realize that any amount you spend will not count towards your total drug expenditure for the year which may make it more expensive to enter into the catastrophic level of coverage provided for under part D of Medicare.
0 Comments



Leave a Reply.

    Media Inquiries

    (231) 932-1900
    945 E 8th Street
    Suite A
    Traverse City, MI 49686​
    Click Here to Email Us

    Archives

    September 2022
    February 2022
    October 2021
    May 2021
    July 2020
    June 2020
    February 2019

    Categories

    All
    Awards
    Events
    Local
    Partnerships
    Staff

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

NuStar Insurance Agency, Inc.​
945 E 8th Street
Suite 1
Traverse City, MI 49686
(231) 932-1900
Click Here to Email Us

Location

Boardman River in Traverse City photo by Iulus Ascanius | Website by InsuranceSplash