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Double-digit hikes for some Medicare drug plans

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posted on Sep, 23 2010 @ 05:38 PM

WASHINGTON – Millions of seniors face double-digit hikes in their Medicare prescription premiums next year unless they shop for cheaper coverage, a new analysis of government data finds.

Premiums will go up an average of 10 percent among the top 10 drug plans that have signed up about 70 percent of seniors, according to an analysis of Medicare data by Avalere Health, a private research firm.

Marketing for next year's drug plans gets under way Oct. 1, and seniors will see some of the biggest changes since the Medicare prescription benefit became available in 2006. More than 17 million are enrolled in private drug plans offered through Medicare.

On the plus side, benefits will improve with a new 50 percent discount on brand-name drugs for those who land in the program's coverage gap, the dreaded "doughnut hole." It's a major step toward phasing out the gap by 2020, required under the new health care law. Seniors don't have to take any action to qualify for the discount.

More than 3 million seniors will see their plans discontinued, according to Avalere. Medicare says all but 300,000 will be seamlessly switched to another plan offered by the same insurer, but the Avalere data suggest it may not be that simple.

More increased prices. I guess the only people that will get something good out of this are the people that fall in the coverage gap. I dont really know much about medicare, but atleast from what Ive read, I wouldnt think seniors would be happy about the increase.

posted on Sep, 23 2010 @ 06:47 PM
This entire "study" was written by a company who, in their words,

develop innovative educational products, because communication is essential to moving markets and the policy process.


Our focus on the intersection of business and policy benefits a diverse customer base, including commercial healthcare companies, non-profits, foundations, and government.

Look into their corporate governance (directors).
Here is one example.

Wallace (Wally) Boston
In his career prior to APEI and APUS, Wally served as either CFO, COO, or CEO of Meridian Healthcare, Manor Healthcare, Neighborcare Pharmacies, and Sun Healthcare Group.

All this company is doing is trying to scare people into seeing it their way.

Link to company's website

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