by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | Jan 26, 2011 | Drug Prices, Healthcare Reform, Medicare Drug Plans, Online Pharmacies, Personal Drug Importation
In the State of the Union speech last night, President Obama highlighted prescription savings benefits in his otherwise brief coverage of new healthcare reform. As we’ve previously reported, and President Obama was clear to state, those prescription savings will go mostly to our nation’s seniors who are enrolled in Medicare. Beginning last September, many of America’s seniors received $250 rebate checks for prescription drug costs, a small step toward affordable healthcare. Better yet, starting this year, the coverage gap will narrow, with enrollees receiving a 50% discount on brand name drugs, and by 2020, a 75% discount. While the “doughnut hole” will not fully be closed, the savings will mean that far fewer Medicare enrollees will face exorbitant brand name drug prices out of pocket. (more…)
Tagged with: 50-64, brand name drugs, discount, doughnut hole, health insurance, Medicare, personal drug importation, prescription drugs, President Obama, rebate, seniors, State of The Union, uninsured
by PharmacyChecker.com | Oct 11, 2010 | Drug Prices, Healthcare Reform, Medicare Drug Plans
With open enrollment for Medicare Part D just around the corner, 50% discounts on brand name prescriptions while in the coverage gap seems to be a great new benefit this coming year… or is it? Some patient advocate groups, and we at PharmacyChecker.com, are asking, 50% off what price? Will PhRMA offer the discount on a higher-than-normal base price to cover their losses?
As the market, not the government, controls drug prices, it is a possibility that manufacturers will up the prices on drugs, especially specialty medications that lack brand-name alternative or generic competition, in order to make up for the lost profit. A brand name drug that costs $100 per month now – $50 in 2011 for Medicare Part D enrollees – may likely cost $120 next year – or $60 for Medicare enrollees – so that the manufacturers are able to spare revenue loss little by little. (more…)
Tagged with: affordable prescriptions, Drug Prices, health, Healthcare Reform, Medicare, Medicare Drug Plans, Part D, phrma, save money, seniors, United States
by Gabriel Levitt, Vice President, PharmacyChecker.com and Margaret Rode, PharmacyChecker.com | Sep 23, 2010 | Healthcare Reform
Our health care focus at PharmacyChecker.com is, of course, prescription drug safety and savings. But today we want to simply recognize and report on the first real benefits to come from the now six-month-old health care law. Health insurance companies must make some seriously consumer-friendly changes. As of now, insurers:
– Must not exclude children from coverage because of pre-existing health conditions. The White House has noted that this may explain coverage to 72,000 children who were previously insured.
– Must offer adult children under the age of 26 coverage under their parent’s health plans.
– Will be prohibited from dropping customers due to technical mistakes on their applications. (more…)
Tagged with: health reform, Healthcare Reform
by Gabriel Levitt, Vice President, PharmacyChecker.com and Margaret Rode, PharmacyChecker.com | Sep 2, 2010 | Healthcare Reform, Medicare Drug Plans
About three million seniors enrolled in Medicare may have to switch their prescription drug benefit plan next year, says TheHill.com. The changes are due to provisions of the healthcare law that seek to make it easier for people to choose Medicare Part D plans. However, the process of change itself may be messy for many. The purpose is to create fewer plans per region by requiring that plan sponsors drop plans that offer no “meaningful differences” from other plans offered by those same sponsors. Prior to the passage of healthcare legislation, many experts had criticized the number of available plans as too complicated and called for such streamlining.
But critics point out that these changes break the Obama administration’s promise that consumers can keep their current plans. The final changes are yet to be determined, but they are expected to make things easier for first time enrollees and more difficult for customers already participating in the plans.
Unfortunately, some Medicare enrollees discover that their plans do not cover the drugs they need, forcing them to pay out-of-pocket for such products. Comparing prices online at PharmacyChecker.com can help.
To read and write reviews of Medicare drug plans, see our sister site, MedicareDrugPlans.com.
Tagged with: drug benefit plan, health, Medicare Drug Plans, medicaredrugplans.com, Part D
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | May 19, 2010 | Healthcare Reform
You should know that drug prices are going down in the European Union, which is good for consumers — if you live in Europe. On our side of the ocean, according to AARP’s most recent price report, US drug price increases are on an even greater tare than previously reported – almost 10% over the last year. Analysts suggest that pharmaceutical companies continue to jack up prices on brand name drugs so that government-mandated rebates have less impact on corporate profits. Other reasons may include the need to compensate for lower prices in Europe and a desire to squeeze more profits in the face of pending patent expirations on several blockbuster drugs, such as Lipitor in 2011.
The bottom line is that the more drug prices go up now, the less meaningful the Medicare drug plan discounts will be later. Additionally, higher drug prices can push up Medicare drug plan premiums (up 11% in 2010 already) and have a major impact on tens of millions without health insurance or a drug benefit.
Tagged with: Drug Prices, Healthcare Reform, Medicare, pharmaceutical companies
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | May 11, 2010 | Healthcare Reform
We reported and discussed the generally positive changes to Medicare’s Part D brought about by the new healthcare law, including a 50% reduction of drug prices during the coverage gap (the “doughnut hole”) in 2011. But the devil is always in the details. According to AARP, federal regulations drafted by the Centers for Medicare and Medicaid (CMS) may provide loopholes for some insurers whereby not all plans would have to meet this requirement. The AARP notes that it will closely monitor the actions of pharmaceutical companies to ensure that they are living up to their commitments to bring down drug prices for our seniors and other Medicare enrollees. PharmacyChecker.com commits to do the same and to help those who are falling through the cracks by providing information about finding safe and affordable medication online.
Tagged with: Healthcare Reform, Medicare, pharmaceutical companies, seniors
