All of you who live in the United States and are not yet old enough for Medicare... take note. If you take any prescription drugs, it's going to be expensive.
I have been on Medicare just since April and I have already learned what it means for the pocketbook.
These are the two prescriptions I picked up from my local pharmacy yesterday. Cymbalta on the left and Crestor on the right. These bottles contain a 90 day supply of each. Guess how much they cost together?
The Cymbalta by itself was $600.
That's what happens when you get into the "Donut Hole" or what they call the "Coverage Gap". You don't come out of the Coverage Gap until you have spent over $4,000 out-of-pocket. This is one reason that economists are saying that retired couples these days should plan on spending at least $225,000 for medical care costs.
I have heard that the Affordable Care Act (also called "Obamacare") will eventually eliminate this Coverage Gap. However, the Republicans in the House are trying their best to repeal it, so I'm not holding my breath.
I just wanted to warn you to start saving for your retirement, if you haven't already. You will need it!