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How much are your seniors spending per month on medications?

Lori B

New Member
10
How much does the average senior single adult (or senior couple) spend per month on meds that aren't covered by their insurance?
 
I always hesitate when I hear the word "covered." Many clients will think it means they pay nothing. Of course, it means: Is the item or service eligible for payment or reimbursement by the plan? So I assume we're talking deductible and co-pays vs. items truly "not covered."

I've seen the biggest improvement limiting Part D out-of-pocket costs in the last year. It gets even better in 2025 when the $2,000 cap kicks in. Going back just a few years, I've seen multiple Part D members pay $2,000 to even $5,000 a year out-of-pocket for drugs. So far for 2024 I've run about 200 Part D plan reviews with the most I've seen was client on an expensive leukemia drug called Imbruvica. It retails about $20K for 90 140 mg capsules, yet his costs for it (and all his other drugs) is capped at about $3,340 for the year!

Frankly, I don't see how this is sustainable.....but it's a wonderful thing and a real life saver (literally) for lots of folks. I've also read Part D was never actually funded and runs on fumes (borrowed money). So make hay while you can.
 
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