Bloomer Boomer – Medicare or Medi-scare?
Medicare or Medi-scare?
The beginning of Medicare Open Enrollment can be a scary time for seniors. Especially as they research plans to select the one that best fits their health needs and budget. Healthcare and prescription drug costs can be perplexing. However, according to a new survey, what seniors value most, as they conduct their research, is affordability. And access to their prescription medications.
The Medicare Matrix, a survey conducted by Russell Research on behalf of Express Scripts. Also confirms what many seniors already know, that Part D is an invaluable part of the Medicare mix for beneficiaries. In fact, eight in ten of those surveyed agreed Medicare Part D is essential for their well-being. Its nearly two-thirds of respondents use Medicare Part D at least once every three months; more than one-third use it monthly.
While 81 percent of seniors say they would have trouble paying for their drugs. If it were not for Part D, the percentage jumps to 87 for those seniors with income levels less than $50,000. Other less notable findings include more than one-half of those surveyed do not find Medicare Part D all that confusing. And an even greater percentage understand what it covers. Six in 10 understand how much their medications cost. However, younger seniors demonstrated the most trouble understanding their benefit.
Read More About Medicare Part D:
Medicare Part D is a voluntary outpatient prescription drug benefit for people on Medicare that went into effect in 2006. All Medicare beneficiaries, including those ages 65 and older and those under age 65 with permanent disabilities, have access to the Medicare Part D drug benefit.
Beneficiaries can choose to enroll in either a stand-alone Part D prescription drug plan to supplement traditional Medicare or an all-inclusive Medicare Advantage plan that covers all Medicare benefits, including drugs during the Medicare Part D annual enrollment period, which runs between Oct. 15 and Dec. 7.
If you are enrolling in a Medicare plan this season, use resources like RoadMapForMedicare.com or Medicare.gov to help navigate and determine the best options. Medicare doesn’t have to be a scary process.
Rebecca Rabbitt, PharmD
Rebecca Rabbitt, PharmD, has played an integral role in the development of Express Scripts’ Medicare Part D prescription drug plan and suite of Medicare services and solutions for clients. As vice president, Medicare solutions, she leads the team responsible for helping health plans implement effective pharmacy management solutions for their Medicare and Medicaid populations. Her knowledge of CMS guidelines helps clients improve their CMS Star Ratings.
Rebecca holds a doctorate in pharmacy from the St. Louis College of Pharmacy and has completed a clinical residency at The Jewish Hospital of St. Louis.
