Paying for prescription medications just got easier for families who frequent AgingCare.com, the go-to destination for family caregivers. The newly released Prescription Drug Assistance Locator enables older adults and their families to search for financial aid programs for prescription medications.
"Each month, aging Americans are confronted by thousands of dollars in prescription drug costs that eat into their already limited financial resources," says Joe Buckheit, president of AgingCare.com. "The Prescription Drug Assistance Program Locator empowers caregivers to help their families rein in these costs by providing them with a centralized place to find financial aid for medications."
The Prescription Drug Assistance Locator tool splits financial aid programs up into three key categories:
- Nationwide Non-Profit Programs
- State-by-State Programs
- Pharmaceutical Company Programs
Prescription medication payments make up more than 16 percent of the health care costs for the average Medicare beneficiary. Even with the inception of Medicare Part D, beneficiaries who fall into the "donut hole" coverage gap can find themselves facing thousands of dollars in out-of-pocket fees for costly drugs.
"My parents live on Social Security only and, by the end of the month, they are broke and can't pay for their medications. They don't qualify for Medicaid. What can I do?" Mary, an AgingCare.com member, inquires on the Caregiver Support Forum.
"My mom is in assisted living and all of her income goes towards rent and medication, with nothing left over," laments Chris, another caregiver.
Helping caregivers fill financial and information gaps
Older adults' out-of-pocket prescription costs can quickly add up. A 2012 survey by the Commonwealth Fund found that 28 percent of chronically ill adults skipped doses or did not fill prescriptions for conditions such as diabetes, high blood pressure, lung and heart disease because they could not afford them.
AgingCare.com's multi-faceted search tool combats this epidemic by connecting caregivers with over 100 different assistance programs.
The Prescription Drug Assistance Program Locator is just the latest in a series of resources created by AgingCare.com to serve family caregivers, including thousands of articles authored by elder care experts, a forum where caregivers can dialogue in real-time, and the Caregivers' Resource Library, with free eBooks on topics like Alzheimer's Care, Home Care and the Caregiver's Survival Guide.
"When you become a caregiver, there's so much you don't know, especially in the first few months," says Buckheit, whose mother and mother-in-law both looked after their aging parents. "Unfortunately, what you don't know can hurt you and your family. Our mission has always been to identify the information needs of family caregivers and create dynamic resources to help them fill these knowledge gaps."
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