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
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
