Finding Financial Assistance Programs for Pharmacy Medications in Michigan

Not all medications are available in a low cost or generic format, but there are financial assistance programs available for those who would otherwise not be able to afford their necessary prescription medications. Michigan financial assistance pharmacy programs generally depend on the individual's financial and medical situation.

Generic Medication Assistance Programs

Assistance and discount programs exist for both those currently on generic medications and for those who wish to switch to generic medications. There are also generic discount drug programs available. However, generic medications are not always chemically identical to name brand medications, only the active ingredients are assured. There can be side effects to a switch from name brand to generic; consequently, it should always be done under the supervision and advice of a physician.

Low Cost and Sliding Scale Clinics

Low cost clinics are cost-conscious and able to prescribe medications that may cost less than other alternatives, and may be able to work with individuals to determine the best solution for their financial situation. A sliding scale clinic will collect financial information from a patient and will determine how much they can pay without undue financial hardship. Either way, an individual will usually pay much less through a low cost or sliding scale clinic than a conventional clinic.

Discounts, Coupons and Rebates

Many medications have discounts, coupons and rebates available directly from the pharmacy or the manufacturer. By inquiring with their doctor and pharmacy, a patient can often save a significant amount of money. Doctors and clinics can also give out samples of a wide selection of medication at their discretion, which will be more cost-effective when testing out trials of certain types of medication in succession.

Special Programs

Special programs exist for those within unique situations: senior citizens, veterans, college students and other similar individuals. Those who are within one of these situations, are disabled, or are otherwise at a disadvantage, may want to inquire about these specialty programs. The Department of Human Services will usually have more information regarding what is available.

Most pharmacies will be able to give additional information regarding financial assistance pharmacy Michigan organizations and discounts. Those who are concerned about the potential cost of their medications may wish to call the pharmacy directly or discuss their financial situation with their clinic or doctor.

Autoimmune Diseases

Unfortunately, autoimmune diseases are a common problem for people. In fact, the American Autoimmune Related Diseases Association states that about one in five people in the U.S. suffer from an autoimmune disease, and a majority – an estimated 75 percent to be exact – are women. For some individuals, the autoimmune disorder may leave him or her crippled, but a financial assistance pharmacy Michigan can help treat the condition.

Autoimmune disorders are classified into two different groups. One is autoimmune diseases that include rheumatoid arthritis and multiple sclerosis. Autoimmune diseases happen when the body's immune system is overactive. It begins to attack the body and its own tissue. Generally, autoimmune diseases require a drug that suppresses the immune system, so it no longer attacks itself and causes any further damage.

Psoriasis

One disease in this category is psoriasis. People with this condition have an overactive immune system that has red blood cells that collect within the skin. All the heightened activity causes the skin cells to continuously reproduce and quickly. This produces scaly, silvery plaques on the skin that only tends to go away with medication provided by a pharmacy.

Rheumatoid Arthritis

Rheumatoid arthritis occurs when the immune system's antibodies connect to the lining of joints. These cells attack the joints. This results in symptoms like swelling, pain and inflammation. When rheumatoid arthritis isn't treated, the damage to the joints continues to get worse. When it's not treated, it wil cause permanent joint damage. People can take both injectable and oral drugs through a financial assistance pharmacy in Michigan in order to slow the progression.

Inflammatory Bowel Disease (IBD)

Inflammatory bowel disease occurs when the immune system begins to attack the lining of the intestines. This leads to rectal bleeding, urgent bowel movements, fever, weight loss, abdominal pain and diarrhea. The two major forms of this disease include Crohn's disease and ulcerative colitis. Crohn's disease will go deep within the layers of the bowel tissue. In some cases, it can be life threatening. For other people, the symptoms aren't that bad. Either way, it's important that a person takes the injectable or oral medications that may reduce the severity of the symptoms and signs. In some cases, the treatment may lead to long-term remission. Ulcerative colitis happens in the large section of the intestines known as the colon and can be life threatening, especially without proper treatment.

Prescription Drug Costs Continue to Rise

Recently, CNBC released a report about a study at a major HMO with over 1,200 participants. In the study, 73% of the individuals said the cost of prescription drugs is too high because pharmaceutical companies charge too much for them.

Only 10% blamed insurance companies for the high cost of prescription drugs, even though clearly the out-of-pocket costs for an individual come from the co-pay amounts, which have steadily increased year after year.

Elderly and those on a fixed income who otherwise cannot afford prescription drugs, should seek financial assistance pharmacy Michigan and may qualify for subsidies from the pharmaceutical companies.

Consumer Market Dynamics

Healthcare costs paid by consumers for prescription drugs continue to increase. Certainly, some costs savings come from using generic versions of brand name drugs. Nevertheless, with illnesses that have new treatments, many times the only thing available is the new prescription drug. This puts the pharmaceutical companies in a monopoly position. Patent protection has to expire for generic versions of the drugs to become available.

The Cost of Clinical Trials More than Doubled in the Past Decade
Taking a balanced viewpoint, it is clear that costs for the pharmaceutical companies to bring a new drug to market have increased substantially. Tuft University did a study that noted the cost of new drug development increased from $1.2 billion to $2.6 billion during the period of 2003 to 2013.

When it costs so much to bring a new drug to market that naturally is going to make them expensive. How bad is it? As an example, CNBC reports that a new drug to treat Hepatitis C, costs $84,000 for a 12-week regimen.

Cost Recuperation or Excessive Profits?

Let’s check the numbers for the new Hepatitis C drug. The Center for Disease Control (CDC) says that 2.7 million Americans have chronic Hepatitis C, but aren’t yet sick. In 2013, the number of cases of acute Hepatitis C (those who are sick) was 29,718.

If all the acute cases were treated with this new drug, that equals about $2.5 billion, which is about what it cost to bring the drug to market. However, if only a small portion of those with chronic Hepatitis C get the acute version, profits for the maker of this drug, will be in the hundreds of billions, unless the price comes down.

Summary
This is a problem without an easy solution because the contributing factors of rising clinical trial costs and the insurance companies’ desire to increase patient co-pays, means that it is likely consumers will pay more for prescription medications.

5 Tips for Finding Financial Assistance for Medications

When it comes to going to the doctor and paying for prescriptions, the accompanying costs can get quite expensive. This is especially true for people who don't have insurance. And still yet, even some people who do have insurance find it difficult to pay for the always-increasing costs of medical services and products. Fortunately, though, there are several tips a person can follow to take advantage of for financial assistance pharmacy Michigan.

Consider investing in better insurance

Many times, high medical costs are endured because a person chooses to pay low premiums on their health insurance plans. If they will up their premiums, many insurance providers will greatly lower the accompanying deductibles. With lower deductibles comes the ability to be out less money when going to the doctor and paying for medications.

Local resources

Many pharmacies provide access to local financial assistance programs that can be tapped into to help pay for prescriptions. Even some pharmacies themselves offer their own financial assistance options, such as 30-day prescriptions for only $4.

Don't overlook Medicaid

Even if a person already has health insurance, it may be possible for the person to qualify for financial pharmacy assistance through Medicaid. The best way to determine whether or not Medicaid resources are available, it's advised to speak with a professional Medicaid specialist. Tap into non-profit organization assistance There are local, state and federal non-profit organizations that provide access to financial assistance for prescriptions. Best of all, many of them are not based on income. This means even if a person makes a considerable amount of money each year, if there are gaps in his or her insurance that make it difficult to pay for medications, these non-profit organizations can still be of help.

Take advantage of the Affordable Care Act

The Affordable Care Act has put into place a nationwide insurance marketplace that anyone can shop at for an insurance policy. And even if a person has insurance through his or her employer, it's still possible to buy a policy that covers insurance gaps, making it more affordable to pay for pharmacy costs.

Physical Activity is Vital at Every Stage of Life

An object in motion will remain in motion, according to Isaac Newton. Like objects, people to will remain in motion unless an outside force is acted upon them. A person only has so much energy to trade for motion, and as they age activity becomes more difficult. However the basic principle remains the same. It is important that people of all ages continue to do as much as they can physically in order to be able to continue physical and mental activity in the near future.

 

According to a study done by the Rush Memory and Aging Project people who are less active have more brain lesions called white matter hyper-intensities that are associated with certain memory conditions and movement problems. Does the lack of activity cause the lesions, or do the lesions cause the lack of activity? 

The studies are still being done to find out. However it should be noted that studies done before this one suggest physical activity likely increases brain health by increasing blood flow, this study indicated that older adults who are more physically active and do have white matter hyper-intensities have fewer motor problems.

No matter the age or level of ability, humans are better off if they can get their blood flowing at a more rapid rate. Even when a person does not feel up to it, they should do the maximum amount of activity that their condition allows. Even a short walk or water aerobics can improve overall health, and increase mobility over the years.

  Aging is something that most humans have to navigate, and it is easy to feel like slowing down but it is important to make sure that the slow down is not a complete halt. Keeping up a level of motion will insure that the motion will be able to continue month after month.

There are community activities and programs for socialization available to keep seniors from being too isolated. Taking advantage of programs like the financial assistance pharmacy Michigan, YMCA swim programs, nurse aids, and senior activity centers can make the elderly's life much more comfortable while they make the effort to some physical activity each day.

Knowledge Is Power When It Comes to Prescription Drugs

Many Americans take numerous prescriptions on a daily basis. In fact, millions of people take medications that help them sustain their lives. With new improvements and developments for prescription medication, consumers must be informed about changes that affect their prescription, including programs, such as financial assistance pharmacy Michigan that help make medications more affordable.

Understanding Financial Assistance Programs for Medications

Prescription medications are costly, especially for seniors. Seniors are faced with declining incomes and health, so they rely on their medications to help their bodies support their day-to- day activities. Fortunately, there are programs offered by local pharmacies and prescription drug companies that help make prescriptions more affordable, but patients have to research the information in order to learn about the requirements.

Start Researching Financial Assistance Programs

Knowledge is power when it comes to learning more information about financial assistance for prescription drug companies. One of the easiest sources of information is a local pharmacist. Pharmacists work with representatives from drug manufacturing companies on a regular basis, so they are keenly aware of changes affecting medications, including changes to the price. Establishing a dialogue with a local pharmacist is the easiest way for patients to ensure that their prescriptions are affordable.

Apply for financial assistance with prescription drug companies. As the manufacturers of prescription drugs, drug companies are aware that many people cannot afford to cover the costs of prescription drugs, and those who have no assistance paying, can benefit from internal programs with their company. Many drug manufacturers offer multiple programs that allow their patients to receive free or discounted prescription medications, but patients have to research the information.

Research the Requirements

Many financial assistance programs are only available to individuals who meet certain parameters. Often, there is an income requirement or the patient must be taken a certain prescription in order to qualify for assistance. Before applying, patients must ensure that they meet these requirements, otherwise their application will likely be denied.

Patients who rely on medications to sustain their lives, yet find it challenging to pay for their medications, must research prescription programs that offer financial assistance. With these programs, they will have access to the medication they need until they can improve their economic situation.

Qualifying for Financial Assistance on Prescription Mediction

Medical care these days is expensive enough, but when paying for prescriptions is thrown into the mix, things can get to be even more financially burdensome. Fortunately, for those who are either uninsured or underinsured and can't afford to pay for their prescriptions, there's always the option of applying for Medicaid.

Medicaid is a Federally-funded source that helps those with low incomes and no insurance get the medical care (and subsequent financial assistance to pay for the care) they need. For those wondering if they might qualify for Medicaid, there are a few considerations to keep in mind.

Different States, Different Requirements

First of all, those applying for Medicaid should understand that each state has the ability to set its own requirements and laws regarding Medicaid eligibility. Therefore, it's recommended that those considering the option to apply research their state requirements beforehand. 

Even upon determining that those requirements have been met, it will still be necessary for those with Medicaid to find pharmacies and medical centers in the area that accept Medicaid, as not all do. Specifically, shopping around for a financial assistance pharmacy Michigan is recommended.

Living Below the Poverty Level

The main criteria that's generally used to determine whether or not a person (or a family, as the case may be) is eligible for Medicaid is one's income and whether or not that income falls under the nationally recognized poverty level; the current poverty level for a single-person household is listed as $11,670. For a family of four, the poverty line is $23,850.

Retroactive Acceptance and Payments

Finally, those looking to apply for Medicaid should also be aware that, if accepted, they may be entitled to receive as much as three months of retroactive payment for any medical expenses incurred while waiting for the Medicaid application to be processed. This can cover hospital and doctor's office visits, prescription medications that were paid for out-of-pocket, and a number of other related costs. 

In order to receive retroactive compensation, however, additional paperwork may be needed and documentation of medical costs paid will need to be provided. 

Qualifying for Medicaid can be an excellent way to receive the financial assistance needed to pay for medical expenses and prescription medications. Those who live below the poverty line and are having trouble with paying for these costs should consider submitting an application in the near future.