Many seniors pay much more for prescription drugs than Medicare Part D’s $4,700 catastrophic coverage threshold might suggest.
A new study by the Kaiser Family Foundation finds that many seniors who take expensive drugs for arthritis, hepatitis C, multiple sclerosis and cancer will spend between $4,000 and $12,000 in 2016 just to take one drug.
Why? Well, the drugs are extremely expensive. So expensive that Medicare beneficiaries who depend on them are footing five-figure bills even though they are only picking up 5 percent of the tab.
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