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 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
