Medicare Part D offers real benefits for the chronically ill
I found this in the Miami Herald:
Recent media coverage has devoted a great deal of attention to the challenges in implementing the new Medicare prescription drug benefit. Unfortunately, little has been said about how this new program might actually help beneficiaries.
A newly released study by the National Health Council shows that Medicare beneficiaries with the nine most prevalent chronic diseases and disabilities can enjoy significant savings by enrolling in the right prescription plan.
Why talk about people with chronic conditions? Findings revealed that 86 percent of beneficiaries in the study had at least one chronic condition. Two thirds had at least two, and 40 percent had three or more.
For the beneficiaries with just one chronic condition, who spent an average of $1,507 each year on prescription drugs, the study calculated an annual savings of $400 by enrolling in Medicare Part D coverage. At the other end of the scale, for people with four or more conditions and average annual spending of $4,226, the savings amounted to about half that expense. The study also found that beneficiaries with catastrophic spending levels — more than $5,100 a year — could enjoy savings in excess of $4,000.
Despite the so-called ”doughnut hole” that some beneficiaries may encounter if their prescription spending falls within a certain range, several private plans under Medicare Part D are voluntarily exceeding federal requirements and eliminating any coverage gap. In addition, beneficiaries who meet certain criteria may be entitled to additional savings.
This is good news for Medicare beneficiaries with chronic conditions — many of whom make quality-of-life sacrifices to afford their medications or deplete their retirement savings. Those who cannot afford the costs of their recommended treatments often skip or split dosages. Others simply do without vital drugs and therapies.
These practices are particularly alarming as they can have very negative consequences, including death. Even when not fatal, ignoring a treatment regime often can further exacerbate a chronic condition, resulting in emergency-room visits and other preventable procedures. Treating a neglected condition after the fact can prove extremely costly for the patient as well as our public-healthcare system. On the other hand, by ensuring continued access to necessary medications, the new Medicare Part D program can have additional benefits in terms of promoting better health and avoiding unnecessary spending.