Do Medicare Advantage Plans Help Older People With Prescriptions?
Despite the good news that Medicare Advantage average premiums will decrease by four percent next year, there is worrying news for Medicare beneficiaries. According to a recent Avalere Health study, co-payments for branded drugs will increase in 2012. Co-pay is a specific amount that your health insurance plan may require you to pay for a specific medical service or provision. For example, your health insurance plan may require a $ 25 copayment for an office visit or $ 35 for a branded drug, after which the insurance company usually pays the rest of the charges. Medicare made an announcement that Part D of Medicare plan fees in 2012 would remain unchanged. Premiums still cost an average of $30 each month. According to the study by Avalere, plans with the least monthly fee may not be the best offer all the time. Find medicare advantage plans quotes and apps.
Dan Mendelson, CEO of Avalere, said: “Older people should look beyond the prize to understand their benefits with medications. The more the cost is passed on to the patient who needs the medication, the more important it is for the elderly to understand the following. “According to Medicare officials who went though the study, the average fee for prescription drug policies is not a yardstick for what each beneficiary will eventually pay. Vice president of Medicare, Jon Blum, said a general conclusion will not be arrived at because each individual’s medication needs are separate. You must consider the specific plan and medications that the individual takes.
Is medical care review beneficial for the elderly?
As Blum noted, the health care review law is helping recipients of high-cost medications save money. For those who fall into the Medicare uninsured period coverage gap, beneficiaries can get a 50% discount on branded drugs.
Changes for 2014 and beyond
- Medicaid participation will be extended to include low-income people under 65, up to 133% of the federal poverty level, or approximately $28,300 for a family of 4. Although protecting more Americans is the objective of any reform effort, there is concern about whether physicians for primary care in the country can cope with this influx of new patients.
- Employers start paying fines if they do not provide qualified medical coverage to employees.
- Separate terms start with fines for families and individuals who do not take part. Subsidies will be available to individuals living at or below 400 percent of the federal poverty level.
- Guaranteed emissions, guaranteed renewal, modified community classification and minimum benefit standards become effective. This has already caused an increase in insurance premiums.