The Wall Street Journal runs an article stating that many Part D drug benefit Medicare plans announce shifts in their terms, including co-payments and a sharp rise in premiums and recommends that people take another look at their plan in light of these changes. Beneficiaries may elect to change plans during the fall open enrollment period, running from November 15 to December 31.
As an example:
the country's biggest Medicare drug plan, AARP MedicareRx Preferred, sponsored by UnitedHealth Group Inc., is expected to boost average premiums by 18% next year to $34.92 a month, according to an Avalere analysis of pricing in five big states. The plan, which had 2.7 million beneficiaries nationwide as of August, will have the same $7 average co-payment for generic drugs. But consumers buying brand-name medications on the insurer's preferred-drug list -- such as cholesterol drug Lipitor and Nexium for heartburn -- will have to shell out $36.40 in average co-payments, up 21%, for each purchase, according to the five-state study.
Humana Inc.'s PDP Enhanced plan, the third largest, will see a 51% average rise in premiums. Average co-payments for generics will surge 75% to $7, and 60% to $40 for preferred brand-name drugs.
The government does not regulate prices on Part D plans. For more information, click on the link above for a detailed article that should help you navigate through the best plan for yourself or your parents or loved one.
[For further information and assistance on Part D plans, visit the Center for Medicare Advocacy.]
See also a Guide for Dual Eligibles (on both Medicare/Medicaid)
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