Taking into account prescription drug needs when comparing plans now will likely lead to savings next fall when most seniors experience the coverage gap, otherwise known as the ‘donut hole,’
Los Angeles, CA (PRWEB) December 18, 2007
There is still time for seniors to educate themselves, compare their options and choose a plan before the Medicare Part D open enrollment period ends on December 31st. With two weeks left in enrollment season, DestinationRx offers a senior-friendly online comparison tool to make the process of choosing a Part D plan quick, easy and painless.
In a recent WSJ Online/Harris Interactive poll, 21% of seniors surveyed say they have been advised by others to look at other drug plans before deciding whether their current plan is best. But overall, 71% said they are not likely to switch, compared with 19% who said they are likely to do so.
“With several dozen plans for Medicare available in most states and only two weeks left for seniors to choose a new drug prescription plan or keep their old one, it is vitally important that seniors, their families and caregivers find out about the real cost-saving options that are available to them in the coming year,” said Michael Cho, CEO of DestinationRx. “There is nothing to lose by simply exploring options.”
As many as 91% of Medicare beneficiaries could see significant cost savings by switching plans -– those who don’t can expect an average 21% increase in their plan premiums. In a matter of minutes, the DestinationRx Part D Plan online comparison tool can lay out cost-saving plan options available based on zip code and prescription drug needs, including estimated costs for the year.
“While it is entirely possible that some seniors will find their current plan is still the most cost-efficient, many will find a different plan that better fits their needs,” said Cho. “In any case, doing the research now will leave seniors more informed and better prepared with respect to their healthcare costs in the coming year.”
For seniors due to turn 65 in the next year, it is not too early to start reviewing and comparing plans. For those beneficiaries that “age-in” there is a window of time from three months before to three months after their birthday in which to enroll in a Medicare plan. The DestinationRx Part D Plan comparison tool will be available and active throughout 2008 to aid these “age-ins” in comparing and choosing the best plan for them.
Managing Prescription Costs
Regardless of what prescriptions you or your loved ones are taking, there is likely more than one alternative that could be more cost-efficient. In addition, techniques such as taking more doses per day or splitting pills could save you between 20 percent and 90 percent on drug costs
“Taking into account prescription drug needs when comparing plans now will likely lead to savings next fall when most seniors experience the coverage gap, otherwise known as the ‘donut hole,’” added Cho.
In addition to the Part D Plan comparison tool, DestinationRx’s online Medicine Cabinet™ provides information about specific, cost-saving alternatives to the most popular and expensive prescription brand drugs in the country. If you are on a prescription drug, another medication may be available that is as effective – yet much less expensive. The information found on the DestinationRx website can be used as a powerful guide to attacking the high costs of healthcare and prescription drugs in 2008.
Founded in 1999, DestinationRx, Inc. is a leader in consumer drug comparison and purchasing technology. The company provides government and commercial plan providers with the resources to create fully integrated and comprehensive decision-support capabilities for their members. DestinationRx is also a leading consumer resource, providing education, price comparisons, and purchasing options for a variety of prescription drug and other healthcare transactions within the context of the DestinationRx Medicine Cabinet™. The company’s client roster includes the Centers for Medicare and Medicaid Services (CMS), pharmacy benefits managers (PBMs), large health plans, Fortune 100 employers, and advocacy organizations.
For more information,
Medicare Part D Plan online comparison tool http://www.drx.com/medicare-partd/compare/intermediate.aspx
Source: (The Wall Street Journal Online/Harris Interactive survey of U.S. adults age 65 or older, shows 87% of those enrolled in a Medicare drug benefit plan are satisfied with their plan, up from 75% last year, while 6% said they aren't satisfied. Published December 12, 2007 in the Wall Street Journal Online)