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:12/4/2016)... ... December 03, 2016 , ... The Lymphoma Research Foundation ... research and serving the lymphoma community through a comprehensive series of education programs, ... Event in New York City, with long-time partners The Paul Foundation, on November ...
(Date:12/4/2016)... (PRWEB) , ... December 03, 2016 , ... ... “Fastest growing Entrepreneurial Company in the Dallas area” Tuesday evening at the 26th ... Dallas Hotel, presented by SMU's Cox School’s Caruth Institute for Entrepreneurship. Dallas 100™, ...
(Date:12/4/2016)... ... ... Responsible dental care hinges on regular brushing of the teeth. However, just brushing ... inspired an inventor from Las Vegas, Nev., to design the BRUSH PROPER. , ... bad techniques of brushing the teeth in order to prevent cavities," he said. "Children ...
(Date:12/2/2016)... ... ... On Dec. 2, 2016, CURE® magazine will host the 4th Annual MPN ... Heroes—eight individuals who have made a difference in the field of rare blood cancers ... demonstrating leadership within the MPN community and/or a commitment to individual patients. , This ...
(Date:12/2/2016)... ... December 02, 2016 , ... FlexiSpot, a trusted ... 60-day free trial program for all of the company’s desktop riser products. A ... hassle free experience. , FlexiSpot’s unique desktop risers use an advanced dual gas ...
Breaking Medicine News(10 mins):
(Date:12/2/2016)... 2, 2016 Persistence Market Research ... its upcoming report titled, "Global Market Study on Cardiac Pacemaker: ... of -1.4% between 2016 and 2024". The global cardiac pacemaker ... and this is likely to decline to US$ 3923.8 ... cardiac pacemaker market is anticipated to exhibit a declining ...
(Date:12/2/2016)... Dec 2, 2016 Research and Markets has ... Development, Growth and Demand Forecast to 2022" report to their offering. ... , , ... billion in 2015, and it is expected to grow at a CAGR ... expected to witness faster growth during the forecast period, a CAGR of ...
(Date:12/2/2016)... Spain , Dec. 2, 2016 In ... natural sources apart from those derived from C. sativa, ... the Universita` di Napoli Federico II , the ... created the first comprehensive, critical, integrated and unified inventory ... The article focuses on the remarkable chemical and ...
Breaking Medicine Technology: