An EPIC way to slash prescription drug costs
Seniors can lower the costs of prescription drugs through a low-income subsidy program known as Elderly Pharmaceutical Insurance Coverage, or EPIC.
To be eligible for EPIC, Medicare beneficiaries 65 or older must have an annual income of up to $75,000 (single) or $100,000 (married); be enrolled in a Part D prescription drug plan either through original Medicare or a Medicare Advantage HMO health plan, and are not receiving full Medicaid benefits.
EPIC, which is operated by the New York State Department of Health, allows members to enroll in Part D prescription drug plans at any time during the year.
Other benefits for existing members includes an annual, one-time Medicare plan change, Part D premium assistance, and help covering co-payments.
EPIC benefits, which kick in after the Part D deductible is met, will pay Part D premiums for any member whose income is less than $23,000 (single) or $29,000 (married).
Members pay an annual fee of between $3 to $20 based on a sliding income scale.
To apply, download a form from health.ny.gov, or call 800-332-3742.
Other ways to lower your prescription drug costs, according to Medicare.gov:
• Look into generic drugs. Ask your doctor if there are generics that will work as well as your current brand-name drugs.
• Ask your doctor about less expensive brand-name drugs.
• Consider using mail-order pharmacies.
• Use the Medicare Plan Finder to compare Medicare drug plans to find a plan with lower costs.
• Find out if your state offers help paying for drug costs.
• Find out if the company that makes your drug offers help paying for it.