by PharmacyChecker.com | Sep 27, 2010 | Medicare Drug Plans
As we previously reported, nearly 3 million seniors will be forced to change their Medicare drug plan this year due to the new health reform law. Now, in addition to the millions who have to, many may voluntarily change plans if their premiums go up, which is likely. A new report from Avalere Health, a private research firm, shows that among the top Medicare plans, premiums are expected raise an average of 10%.
In general, Medicare officials say the average premium should only raise 1%, but on the high end it could be up to 43%! Enrollees of the First Health Part D Premier Plus plan offered by Coventry Health Care will see monthly payments rise from $64 to $91 – that’s over $300 for the year. Another startling change will be for members of the AARP MedicareRX Saver plan, the second most popular among seniors. These enrollees will be switched to the largest plan, AARP MedicareRX Preferred, and will see, on average, a 15% raise in premiums. (more…)
Tagged with: AARP, Avalere Health, Healthcare Reform, MedicareRX Preferred, MedicareRX Saver plan, Part D, seniors
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, Vice President, PharmacyChecker.com and Margaret Rode, PharmacyChecker.com | Jun 11, 2010 | Medicare Drug Plans
It has reached mid-June and the first of an estimated 4 million health reform rebate checks will be sent out this week. These checks will go to Medicare enrollees who have already reached the Medicare drug plan coverage gap, known as the “doughnut hole,” and subsequent checks will be mailed out 45 days after other Medicare enrollees hit the hole. According to Medicare.gov, eligible recipients who reach the “doughnut hole” this year will receive this one-time rebate check to offer some immediate relief.
Our previous post noted that compared to the $3,610 gap, $250 doesn’t seem like a lot of money. In fact it is only one-fourteenth of the total cost seniors will have to pay to get out of that hole and back into government subsidized prescription drug territory. This realization is discouraging in itself, but added to the fact that drug companies are boosting their prices higher than ever, seniors are faced with diluted savings that make little to no impact on their financial access to necessary prescription drugs.
The $250 check some seniors will receive this week, and others throughout the year, is welcome relief, but until pharmaceutical manufacturer’s stop taking advantage of consumers in need by jacking drug prices, prescription abandonment, prescription non-adherence, and unavoidable debt, will undoubtedly continue to grow.
Tagged with: Drug Prices, Healthcare Reform, pharmaceutical companies, prescription abandonment, seniors
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | May 6, 2010 | Medicare Drug Plans
Seniors and others on Medicare have enough trouble affording their prescription drugs and navigating the rough waters of finding the right drug plans. That there are con artists on the loose seeking to extract payments from the unsuspecting senior adds insult to injury. But savvy seniors will not be taken!! Here are the scams to look out for…
- Door-to-door salespeople and off-hours calling; agents must have an appointment and cannot call before 8a.m. or after 9p.m.
- Agents with invalid licenses. Confirm that they are valid and authorized.
- Agents asking for personal information (social security number, bank accounts) before first bill has been received. The Social Security Administration will never contact you over the phone or by e-mail.
- Unverified plans; check with 1-800-MEDICARE or www.medicare.gov.
- Prizes or rewards in exchange for enrolling.
Source: InjuryBoard.com
You can read and write reviews of Medicare drug plans at www.medicaredrugplans.com.
Tagged with: Medicare, Medicare Drug Plans, seniors
by Gabriel Levitt, President, PharmacyChecker.com and Prescription Justice | Mar 26, 2010 | Medicare Drug Plans
The new healthcare reform law offers significant prescription drug discounts for Medicare Drug Plan enrollees who fall into the coverage gap, also known as the “doughnut hole.” In 2011, you’ll get a 50% discount on brand name drugs, and by 2020, 75% of your drug bill will be covered through the gap.
But what about now?
The most immediate relief you’ll get is $250 to help you pay for your drugs through the doughnut hole in 2010. If you’re facing the full $3,610 abyss of the hole, $250 is not a lot of money. However, there are very practical ways to afford your prescription drugs. What ever you do, don’t skip taking your medications. See our Safe Strategies For Drug Savings.
You may also want to look at consumer ratings of the drug plans on our sister website www.MedicareDrugPlans.com.
Overall, down the road, the new law will give our seniors much greater peace of mind about prescription drug costs, and that’s great news.
Tagged with: Canadian pharmacies, doughnut hole, Medicare
