Navigation Links
Seniors Choose Medicare Prescription Plans Wisely: Study
Date:11/8/2011

TUESDAY, Nov. 8 (HealthDay News) -- Despite concerns that the complex offerings under Medicare Part D prescription drug plans would confuse older Americans, a new study finds seniors are able to figure out which plan costs them the least.

The researchers found evidence that seniors -- possibly with the help of family members -- quickly adapted and made changes as necessary.

The findings may ease concerns among some experts about elderly people's ability to understand complicated drug insurance products and select the least expensive, according to the University of Texas at Austin researchers.

They analyzed data from more than 71,000 people who were enrolled in stand-alone prescription drug plans provided or administered by CVS Caremark in 2006 and 2007 and who did not receive a federal low-income subsidy in either year.

From 2006 to 2007, 81 percent of the people in the study lowered their "overspending" by an average of $298 -- 55 percent of the 2006 level.

The oldest people and those beginning to take Alzheimer's medications had higher-than-average reductions in overspending, suggesting that family members and others help them choose plans, the researchers said.

"Having a multitude of options to choose from is economically efficient because we are all different and have different needs," Eugenio Miravete, an associate professor of economics, said in a university news release.

Medicare Part D plans can have different premiums, co-pays and formularies (a list of covered drugs), according to the American Academy of Family Physicians.

"Restricting choices reduces the ability of firms to target individuals with specific needs, and it is not efficient that we all insure against unlikely risks. Medicare Part D is a successful implementation of a market-based approach to deliver a large-scale entitlement program."

The drug plans are popular with beneficiaries, according to the researchers.

The study will be published in the journal American Economic Review.

More information

The American Academy of Family Physicians has more about Medicare Part D.

-- Robert Preidt

SOURCE: University of Texas at Austin, news release, Nov. 1, 2011


'/>"/>
Copyright©2010 ScoutNews,LLC.
All rights reserved

Related medicine news :

1. Caring Rose Home Care Launched To Help Seniors Live Independently
2. Elevators Can Bring Injury to Seniors
3. Kidneys From Older Donors Suitable for Seniors
4. When Seniors Tutor Kids, They Sharpen Their Own Minds As Well
5. RetireSafe Survey Says Seniors Are Struggling With Increased Costs Without an Increased Social Security Cost of Living Adjustment
6. Hospital Stays May Spur Brain Decline in Seniors
7. Senate Inaction On Medicare Hurts Seniors, Military and Boomers
8. National Study Reports Staggering Spending Increases Among Seniors With Chronic Conditions Through Original Medicare - Special Needs Plan Program Offers Solution For Those In Texas
9. President Obama Gets Virtual Colonoscopy (CT Colonography) But Medicare Denies CTC Coverage to Seniors
10. MainStreet MD Launches Personal Safety Solutions for Children and Seniors Built On SensorLogic's Cloud Computing Platform
11. SarahCare(R) and Posit Science Corporation(R) Join Forces to Bring Brain Fitness to Seniors at SarahCare(R) of Minnesota
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/18/2017)... ... January 18, 2017 , ... At Hallmark Nameplate, their commitment ... they have achieved certification to ISO 13485. This certification is another way they are ... date products and services that they need. , The ISO 13485 Certification is a ...
(Date:1/18/2017)... ... 2017 , ... The Hear the World Foundation, a Sonova ... of cochlear implants. In February 2017, the first three children with profound hearing ... leading an independent life. This engagement builds on the support the Hear the ...
(Date:1/17/2017)... ... January 17, 2017 , ... January is National Stalking Awareness Month (NSAM), now ... in the corners and commit the crime of stalking, a very real danger to many ... often overlooked factor in stalking and other crimes. , “Stalking: know it. Name it. Stop ...
(Date:1/17/2017)... ... January 17, 2017 , ... For breast cancer clinicians and ... or those who desire a more intimate review and analysis of its highlights, a ... to Bedside—is being offered by Imedex on February 4, 2017 in Chicago. Chaired by ...
(Date:1/17/2017)... ... January 17, 2017 , ... Kevin Harrington (one of the original Sharks from ... campaigns regarding the topic of Beauty and Personal Care. , Everyone ... better way to commit to these changes than beginning with personal care and beauty ...
Breaking Medicine News(10 mins):
(Date:1/18/2017)... , Jan. 18, 2017  Tarix Orphan LLC ... has granted a Rare Pediatric Disease (RPD) designation for ... Recessive Dystrophic Epidermolysis Bullosa (RDEB), a rare genetic skin ... and treatment is limited to supportive care. ... Orphan Drug Designation previously granted by the FDA in ...
(Date:1/18/2017)... 2017  Astellas Pharma Inc. (President and CEO: ... its participation in Access Accelerated, a global, multi-stakeholder ... prevention, diagnostics and treatment in low-income and lower-middle ... companies and in collaboration with the World Bank ... (UICC), Astellas will work towards the United Nations ...
(Date:1/17/2017)... DUBLIN , Jan 17, 2017 Research ... Pancreas Devices System Market 2016-2020" report to their offering. ... The global artificial ... during the period 2016-2020. Global Artificial Pancreas Devices System ... with inputs from industry experts. The report covers the market landscape ...
Breaking Medicine Technology: