With Sunday, November 15 marking the beginning of Medicare’s open enrollment period, AARP is reminding its members and all older Americans to compare their current Medicare drug and health plans with others that are available and choose the one that best fits their needs. People in Medicare have until December 31 to add, drop or change prescription drug and health care plans for 2010. Each year, AARP encourages its members and everyone in Medicare to carefully consider their options for the coming year.
AARP suggests that seniors pay particular attention to changes in the cost of Part D drug coverage. A new AARP Public Policy Institute (PPI) analysis of 2010 Medicare Part D prescription drug plans finds a majority of the most popular national plans have increased premiums and cost-sharing for next year.
The report finds that more plans will require copayments of close to $100 for some brand name drugs. Other plans will require enrollees to pay a percentage of their drugs’ prices—instead of fixed copayments—for all medicines except generics. One popular national plan will charge different amounts depending on which pharmacies its customers use.
“Even those seniors who are happy with their current drug coverage should watch carefully for changes to their plans in 2010,” said AARP Senior Vice President Cheryl Matheis. “Each year the rising costs of prescription drugs help push premiums and cost-sharing even higher. Now is the time to talk with your doctor about lower-cost medicines that may be right for you. Then, take a close look at your coverage options and find a plan that best fits your needs and your budget.”
AARP encourages older Americans shopping for Medicare Part D prescription drug coverage to use the Medicare Prescription Drug Plan Finder at www.medicare.gov. This online tool finds plans based on a person’s location and current medications. After receiving a list of available plans, AARP recommends considering the “Four C’s”:
* Costs, including the monthly premium, the annual deductible and cost-sharing.
* Coverage for as many of your drugs as possible, which could save a person from paying more out of pocket.
* Convenience of participating pharmacy locations or access to mail-order pharmacies.
* Customer Service. Check Medicare.gov, which includes quality ratings for plans. Ask you doctors, pharmacist and friends about their experiences.
The open enrollment period is also an opportunity for people in Medicare to shop for Medicare Advantage plans, which generally combine traditional Medicare benefits with prescription drug coverage and some supplemental benefits. People in Medicare can compare Medicare Advantage plans head-to-head by using the health plan finder at www.medicare.gov. Seniors who need help finding a prescription drug or Medicare Advantage plan can also contact Medicare at 1-800-633-4227.
“Whether you’re looking to move up to a more comprehensive plan, or just looking for the best price, now is the time to shop,” Matheis added. “Making a smart decision now can pay off big next year.”
The December edition of AARP Bulletin looks at trends in Medicare drug plan costs for 2010. Its web site also provides a step-by-step guide to comparing drug plans and finding the best plan for you. The guide is available at http://bulletin.aarp.org/yourhealth/medicare/articles/quick_route_through_the_medicare_drug_plan_finder_2010.html.
AARP’s fact sheet on 2010 Part D plans is available at http://www.aarp.org/research/ppi/health-care/medicare/articles/fs161-medicare.html.