No doubt we are living in hard economic times. Many people are unemployed. Many people that are fortunate to have a steady job are struggling to make ends meet. Even though these two groups of Americans are “taking it on the chin” financially, there is yet another group that is probably suffering more – our retired seniors. Most individuals in this group are on a fixed income receiving a small social security check as their only financial resource.
Medicare Part D is a federal program that subsidizes the costs of prescription drugs for Medicare beneficiaries. Medicare Part D is very helpful, however it contains a “donut hole” where the patient is responsible for 100% of the drug cost. According to a recent study from Harvard Medical School, seniors often go without drugs once they enter the “donut hole,” even if the medications are crucial for chronic conditions. They often have to decide between paying for prescriptions and buying food.
The founders of Rock of Ages Foundation want to minimize the financial burden by helping seniors with their prescription costs. Rock of Ages Foundation believes that seniors should not have to decide between medication and food. Both are essential to maintaining quality of life and managing their health issues.
Some senior citizens have no assistance to pay for their medication needs. It is completely out-of-pocket. Many of these individuals will take fewer pills than prescribed – making their prescriptions last longer, but harm their health because of not getting enough of the medication into their system. Many of these people take few prescriptions and feel they cannot afford the prescription plans offered by Part D – not thinking about the needs they may encounter in the future.
