Aarp Home Insurance Owner

EPIC program cuts make prescription drug costs hard to swallow for seniors

Syracuse, N.Y. -- John Cooper of Syracuse experienced sticker shock at the pharmacy counter earlier this month when he paid for three prescription drug refills.

His out-of-pocket copayment was $92, about four times more than he paid in 2011.

The increase is a result of major changes in the state’s Elderly Pharmaceutical Insurance Coverage program — EPIC for short — that took effect Jan. 1. Much of the help EPIC provided seniors with their copays has been eliminated. The state cut $36 million for the program last year because of the state’s budget crisis.

Cooper, 79, said he and his 75-year-old wife have more than 14 prescriptions. He said they may not be able to refill all of them because of the higher cost.

“If we don’t have the money, they will have to put it back on the shelf,” Cooper said. “I’ve got to decide between medicine and food.”

EPIC used to help people over 65 pay most of the out-of-pocket expenses associated with their Medicare Part D prescription drug plans. Now it does not help with out-of-pocket expenses until enrollees reach the coverage limit, or “doughnut hole,” in their Medicare Part D drug plans.

Enrollees do not hit the limit until their annual retail drug expenses reach $2,930. Before they reach that level, enrollees now must pay 25 percent of a prescription’s cost as a copay at the pharmacy counter.

After an EPIC enrollee hits “doughnut hole,” EPIC will pick up most of the copay cost, leaving the enrollee with copays ranging from $3 to a maximum of $20 depending on the drug’s cost. After spending $4,700 on drugs, Medicare Part D “catastrophic coverage” kicks in. That coverage leaves the enrollee with small copays for covered drugs for the rest of the year.

There are more than 285,000 state residents — nearly 16,000 of them in Central New York — enrolled in EPIC. The average EPIC enrollee is 78 years old and takes four prescription drugs, according to AARP .

Aarp Home Owner Insurance | The Residence Insurance

In this article you will find some information related to the AARP homeowner insurance. First of all, it is important to know about the AARP that was founded in 1947. After a few years the NRTA expanded this association to the American Association of Retired Persons. In most of the cases, in everybody’s life one of the most important investments can be his house which requires protection against theft, vandalism and natural catastrophes. You can even extend your homeowner insurance for your personal belongings that are located inside your house.

If you are a member of the AARP which is a nonpartisan advocacy group, you will get the AARP homeowner insurance for free. If you are not a member of this organization, you have the possibility to purchase the homeowner insurance from other companies such as the Hartford Policy Services Group which is considered one of the oldest and largest insurance agencies in the United States.

They are the AARP’s partner which has a wide variety of plan. Every homeowner policy it is based on several factors such as your house’s location, its value and others. When you purchase a homeowner policy you have to fill out an application where you have to type all the necessary information about your house. Don’t lie because the agent will visit your house and if you are not honest you might not get the insurance. It is important to know that the basic homeowner insurances are not covering the certain incidents and accidents.

Before you sign the contract, it is important to make sure that you understand the term and the conditions for which you can benefit from coverage. If you need extra coverage, it is important to ask the agent’s help. If you have one of the homeowner insurance versions and your house is damaged partially or totally, the selected Insurance Company will give you a certain amount of coverage that you can use in order to repair it. Depending on your insurance’s type, you can benefit from different returns which can even be materials.

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