Does Medicare cover Eliquis? What is its cost?
Eliquis, also known as Apixaban, is a blood thinner that is commonly prescribed in the United States. If you have problems with blood clotting, you may have heard about this medicine. Eliquis is also used to lower the risk of stroke or clotting after specific procedures, such as hip replacements. In this article, we will discuss Medicare Eliquis coverage.
Because Eliquis is so popular, especially among Medicare beneficiaries, it’s crucial to understand your alternatives as you transition to Medicare. We’ll go through all you need to know about filling your prescription so you can get your life back on track.
What is the price of Eliquis?
Eliquis comes with a hefty out-of-pocket expense. A one-month supply of Eliquis might cost over $500 if you don’t have insurance. Because the cost of this drug is so high, make sure your insurance covers you.
Is Eliquis available in a generic form?
Eliquis does not have a generic form available right now. In early 2020, the FDA authorized a generic version of Eliquis. Apixaban will be the generic name for this medication. We don’t know how much Apixaban will cost right now. However, it will almost certainly be less expensive than Eliquis.
Does Medicare cover Eliquis?
Prescription drug coverage is not available if you have Medicare Parts A and B. In this case, you will be required to pay the full price of Eliquis. This is because Part A and Part B only cover hospital and outpatient services, not prescription medications.
On the other hand, prescription drug coverage is accessible under Medicare Part D, and most Medicare Advantage plans include it as well.
Medicare Advantage Coverage for Eliquis
Medicare Advantage is a private insurance company that administers your Medicare benefits. Although these plans primarily cover Part A and Part B services, many of them also cover prescription drug expenditures to some extent.
When purchasing a Medicare Advantage plan, double-check that Eliquis will be covered. Eliquis is covered by 99% of Medicare Advantage plans, so if you require it, this is an option you should examine. You’ll almost certainly be able to discover a plan that suits your needs.
Medicare Part D Coverage for Eliquis
Medicare Part D is a private insurance company-provided component of Medicare that covers prescription medicines. Unlike original Medicare, the government merely sets a portion of the price. Your Eliquis prescription will be covered by Medicare Part D, but you may be responsible for a deductible, copayment, or coinsurance.
What Is The Most Economical Way To Purchase Eliquis?
It can be challenging to determine the most cost-effective approach to obtain Eliquis. This is because some plans may involve paying very little for Eliquis itself but may come with high co-insurance, deductible, or premium costs. On the surface, you pay a low price for Eliquis, but your overall costs are higher.
How Much Does Eliquis Cost With Medicare Part D?
The cost of your Medicare Part D plan usually determine the cost of Eliquis. It also depends on whether your plan has a co-insurance, co-payment, or deductible.
Part D premiums are typically low, around $30 per month. This, however, might vary considerably. Furthermore, there is no way of knowing whether your plan will have a copayment or coinsurance, affecting the entire cost of Eliquis.
The cost of Medicare Part D varies, but it is possible that you will have to pay additional fees to the government depending on your income. More information is available on Medicare’s official website.
In 2020, the maximum Part D deductible will be $435. This means you might spend up to $435 on Eliquis before your Part D coverage kicks in. You may still be required to pay a copayment or coinsurance after that, but the overall cost should remain minimal. You can pay as little as $19 per month for Eliquis after reaching your deductible. However, depending on the specifics of your plan, this figure could be more significant.
Is Eliquis Expensive With Medicare Advantage?
The typical Medicare Advantage premium is roughly $23 per month. This is less than the cost of Medicare Part D. When you have Medicare Advantage, you will still be responsible for Part B rates. In addition, your Medicare Advantage plan will require you to pay a deductible and coinsurance.
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