by PharmacyChecker.com | Oct 14, 2011 | Medicare Drug Plans
If you are eligible for Medicare Part D (Drug Plans), you should be aware that 1) open enrollment starts tomorrow, October 15th and 2) you can now research Medicare Part D plans on our site MedicareDrugPlans.com. On the site you find out which plans are rated best (or worst) by people enrolled in them. You’ll also get the 2011 pricing information for every plan in each U.S. state and territory. The information is completely objective – we are not affiliated with any plan.
If you are already enrolled in a Part D plan, MedicareDrugPlans.com allows you to rate and review your current plan, so others can learn from you.
To actually sign up for a plan, we recommend using the government’s website, Medicare.gov – at which you can best determine which plan covers all the prescription drugs you take. Comparing costs and features can be crucial to your health and your finances. Annual deductible, monthly premium and drug coverage (especially in the “doughnut hole”) are important to consider when choosing or changing your prescription plan.
This year the average premium nationally is $55, actual $1 lower than last year! The standard deductible, on the other hand, increased from $310 to $320. Less than ten plans offer coverage through the doughnut hole. However, under the new health care law, brand name drugs are now 50% off through this coverage gap period.
As open enrollment begins, Medicare enrollees interested in a drug plan are urged to research carefully. Whatever plan you choose will go into effect starting January 1st, 2011 and last for one full year – so get it right! Go to www.MedicareDrugPlans.com now.
Tagged with: deductible, doughnut hole, health care, Medicare, Medicare.gov, Open Enrollment, Part D, premium, prescription drug plans, ratings, United States
by PharmacyChecker.com | Oct 10, 2011 | Drug Prices, Medicare Drug Plans
An article published last week in Reuters suggests that Medicare Part D drug plans may be dropping premium prices – an effect of the healthcare reform law which could greatly benefit seniors if they shop around. Reevaluating your Medicare drug plan yearly during the open enrollment period is always a good idea, but this year plan selection could make a big difference.
Although we reported in August that plan premiums will not raise in 2012, Avalere Health, a health policy consulting firm, finds that while 10 of the top Part D plans will lower prices, six plans will raise premiums. However, the good news is that in the larger picture Avalere “projects that average premiums for both prescription drug and Advantage plans will fall 4 percent for 2012.” Because of the 2010 heath reform law, Dan Mendelson, Avalere Health’s CEO, is calling this a “year of change.” He tells Reuters, “It’s a year where patients really need to shop.”
MedicareDrugPlans.com provides ratings and reviews – along with basic plan information such as deductibles and premiums– for consumers to access during their research period. Ratings and comments help Medicare enrollees understand the pros and cons of a plan, and user comments and forum posts give details on what other Americans experienced with their plans.
Open enrollment will be from October 15th – December 7th this year, a change from previous years meant to give Medicare enough time to process all changes and new enrollees, and for consumers to manage their health needs before the busy holiday season.
Tagged with: Avalere Health, deductibles, Drug Prices, Medicare, Medicare Drug Plans, Medicare Part D, medicaredrugplans.com, Open Enrollment, premiums, Reuters, save money
by PharmacyChecker.com | Sep 9, 2011 | Medicare Drug Plans
New research shows that the Medicare drug plan “doughnut hole” seriously endangers not only the pocketbook, but also the health of our nation’s seniors and other Medicare enrollees. Two separate studies released this month show that patients who reach the coverage gap are more likely to stop taking their medication than they are to switch to a cheaper drug: the Public Library of Science published Changes in Drug Utilization During a Gap in Insurance Coverage: An Examination of the Medicare Part D Coverage Gap, and the Kaiser Family Foundation Program on Medicare Policy published Understanding the Effects of the Medicare Part D Coverage Gap in 2008 and 2009.
The putative reason for the coverage gap is that the threshold will teach consumers to be aware of drug costs. Jennifer Polinski, ScD, MPH, the author of PLoS study says, “there is an expectation that people will seek less expensive drug options when they enter the donut hole.” However, these studies reveal that this is clearly not the case. Research from 2006 and 2007 shows that beneficiaries were 40% less likely to switch a drug if they did not receive financial assistance, as opposed to those beneficiaries who did. Likewise, the Kaiser study reveals that about 3.4 million, or 12%, of Part D enrollees who reached the gap in 2008 and 2009 discontinued their medication. (more…)
Tagged with: brand name drugs, coverage gap, doughnut hole, generic drugs, Kaiser, Medicare, Part D, PLoS, prescription abandonment, prescription non-adherence, Public Library of Science, research
by Gabriel Levitt, Vice President, PharmacyChecker.com and Margaret Rode, PharmacyChecker.com | Aug 17, 2011 | Drug Prices, Medicare Drug Plans
An estimated 43,000 residents of Illinois will find it more difficult, if not impossible, to afford their prescription medication due to heavy budget cuts, according to the Chicago Tribune. Specifically, funding for the Illinois Cares Rx program, which subsidizes the cost of medicine and payments associated with Medicare drug benefits, will be cut in half, from $107.4 million to $53.7 million. Illinois Cares Rx includes people with a Medicare drug plan and others who have no drug benefits at all.
With the cuts in place beginning September 1st, 2011, the Illinois Cares Rx program will only be available to those residents earning 200 percent or less of the federal poverty level – or $21,780 annually, down from a higher threshold of 240%, or $27,610. Even the 173,500 remaining in the program will “face higher co-payments for prescriptions — in some cases, double the amount they were previously paying.” (more…)
Tagged with: Chicago Tribune, consumer guide, discount drug cards, enrollment, generic drug programs, generics, Illinois, Illinois Cares Rx, Illinois Department of Healthcare and Family Services, Medicare, Medicare Drug Plans, PharmacyChecker Verification Program, prescriptions, Target, Wal-Mart
by PharmacyChecker.com | Aug 10, 2011 | Medicare Drug Plans
Besides the obvious – access to cheap generic alternatives for once exorbitantly priced prescriptions – this year’s patent expirations on blockbuster brand-name drugs means even more good news for American consumers. A U.S. News and World Report article suggests the Patent Cliff as one of the reasons for the forecasted Medicare savings. Access to low-cost generics on popular drugs like Lipitor cuts spending significantly for plan sponsors, and U.S. officials have announced that enrollees paying for prescription drugs through Medicare Part D will not see an increase in premiums, in contrast with prior years. Rather, the yearly fees will decrease slightly – from an average of $30.76 in 2011 to $30.00 in 2012. All current plan premiums can be found on MedicareDrugPlans.com – Compare Costs and Features.
Moreover, plan enrollees are now receiving a 50% discount on brand name drugs purchased through the coverage gap. However, brand name drug prices continue to increase, which means the discount’s importance is less pronounced. (more…)
Tagged with: brand name drugs, compare costs, consumers, customer service, discount, generics, Medicare Drug Plans, Part D, Patent Cliff, U.S. News and World Report, United States
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
