Reduced Prescription Costs for Seniors Soon a Reality

The good news for seniors in America is that pharmaceutical
companies have agreed to cut the prices of prescription drugs for
seniors.

It's quite the landmark announcement to say the least, that seniors
will be able to take advantage of lower prescription drug costs in the
near future. This thanks to a recent announcement by President Obama.
The behind the scenes story has to do with the Association for the
Advancement of Retired Persons (AARP) working a deal with Big Pharma to
implement the cuts. What this means for seniors (those 65 years of age
and older) is significant assistance meeting their Medicare
prescription drug costs.

Just recently, a survey was released that indicated seniors would
have to do some serious revamping of their retirement funds to make all
the projected health costs for the future. This newest announcement has
added a ray of hope to that scenario by lowering Medicare prescription
drug costs for seniors. It couldn't come at a better time when there
are also some significant changes coming to the Medicare and Medigap plans in 2010.

Comprehensive health care reform, while a large task, may be
accomplished in small steps, like this one. Certainly it will mean a
significant break for seniors who are on Medicare and have Medigap
coverage and Medicare Part D prescription drug coverage. Being a senior
and living on a budget is difficult enough these days in a recession.
Trying to budget Medicare and Medicare supplement insurance premiums is even more arduous.

The idea behind this announcement is that seniors will likely see
their prescription drug expenses cut in half – a compelling and
motivating step towards changing the face of health care for older
Americans. While Big Pharma has never really been a friend to the
Medicare system (largely because of the high costs of drugs), the time
has come for everyone to put aside their various agendas and make a
difference to the community at large. It goes without saying that
Medicare recipients overall will certainly benefit from lower drug
costs.

Richard Cantu is with Medicare supplements resource, GoMedigap.com. To learn more about Medicare, Medicare supplements, or Medicare supplement insurance visit GoMedigap.com.