Filed Under:Health Insurance, Medicare

Most Medicare Part D beneficiaries not in low-cost drug plan

Photo credit: FreeDigitalPhotos.net
Photo credit: FreeDigitalPhotos.net

An analysis of more than 100,000 user sessions on PlanPrescriber.com found only 5 percent of customers were in the Medicare prescription drug plan (PDP) with the lowest total out-of-pocket costs available to them. Only 24 percent of customers were in the Medicare Advantage prescription drug (MAPD) plan with the lowest total out-of pocket costs.

PlanPrescriber.com is a wholly-owned subsidiary of eHealth Inc. (NASDAQ:EHTH).

Average users who made the switch to the plan with the lowest out-of-pocket costs in 2012 could have saved $654 over their existing PDP and $605 over their existing MAPD. Customers with an existing PDP would spend $2,076 per year and $1,980 per year with their existing MAPD.

In 2012, 66 percent of customers did not hit the Medicare prescription drug coverage gap with their existing PDP or MAPD, according to the analysis. Of those that did hit the gap, 52 percent hit it before September in their existing Medicare prescription drug plan.

The analysis took place between Oct. 15, 2011 and Dec. 7, 2011, during the 2012 Medicare Annual Enrollment period.

Featured Video

Most Recent Videos

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Protesters Disrupt WellPoint Annual Meeting

Provided by LIFEHEALTHPRO

Hecklers call for more disclosures of information about political contributions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.