HealthMetrix Research Finds Best Part D Benefit Values Among $0 Premium and $0 Deductible Medicare Advantage Plans
Posted on: Wednesday, 1 March 2006, 12:01 CST
COLUMBUS, Ohio, March 1 /PRNewswire/ -- There may be handsome dividends for seniors who take a closer look at the Part D drug coverage offered by Medicare Advantage plans. Medicare HMO, PPO and PFFS plans offered in many markets feature $0 monthly premiums with $0 annual deductibles and either complete or partial coverage throughout the "coverage gap" or "donut hole" (when beneficiaries pay 100% of their drug bills until reaching $3,600 in out- of-pocket costs). HealthMetrix Research Inc. and MedicareNewsWatch.com released new findings from a 2006 cost-sharing analysis of drug coverage for over 150 Medicare Advantage plans highlighting the best values among $0 premium and $0 deductible products in over 40 markets.
According to HealthMetrix Research Inc. president Alan Mittermaier, "We were more surprised than we expected with the findings. The initial Part D advertising has concentrated heavily on drug-only plans while overshadowing richer Part D benefits attached to Medicare Advantage plans. For 2006, there are no $0 premium drug-only Part D plans available except for low-income seniors who qualify for premium subsidies. Most high-option drug-only plans featuring $0 annual deductible plus gap coverage will cost seniors $40 or more in monthly premiums. That is on top of premiums for Medigap or supplemental insurance policies that cover medical and hospital expenses. Seniors who are willing to bundle all of their Medicare coverage by enrolling in a Medicare HMO, PPO, or PFFS plan can realize considerable savings in annual expenses regardless of their health status. The strategy and savings would be similar to consumers bundling their auto, property, and life insurance policies with a single insurer."
Despite extensive marketing efforts only 6.1 million beneficiaries (14% of Medicare-eligibles) are enrolled in Medicare HMO, PPO or PFFS plans as of December 2005. Seniors can be reluctant to enroll in managed care plans for a variety of reasons. Alan Mittermaier notes that "what may not register with all seniors is that the same Medicare regulatory protections apply to enrollees in both drug-only and Medicare Advantage Part D plans with respect to required drug formulary lists and the rules for switching or dropping drugs. The reality is that drug-only plan sponsors will be managing their drug benefits just as aggressively as Medicare Advantage plan sponsors."
HealthMetrix Research delivers independent decision-support information for Medicare beneficiaries, caregivers and healthcare professionals. HealthMetrix Research neither recommends nor endorses specific Medicare plans or products.
Best Part D Benefit Values Found Among $0 Premium and $0 Deductible Medicare
Advantage Plans Aetna Health - Bakersfield, Phoenix, San Antonio California Health Plan - Los Angeles CarePlus - Ft. Lauderdale Citrus Health Plan - Orlando, St. Petersburg, Tampa Elderplan - New York City (except Nassau & Rockland counties) HealthSun Health Plans - Miami Humana - Baton Rouge, Miami, Salt Lake City, St. Petersburg Kaiser Permanente - San Diego Liberty Health Advantage - New York (Nassau County) Medica HealthCare Plans - Ft. Lauderdale Peoples Health Network - New Orleans Physicians Health Choice - Austin Preferred Medicare Choice - San Juan, PR Quality Health Plans - Jacksonville, Sarasota, St. Petersburg, Tampa SelectCare - Houston Senior Dimensions - Las Vegas SummaCare - Akron, Cleveland United Healthcare - Albany, Albuquerque, Birmingham, Charlotte, Cincinnati, Columbus, Dayton, El Paso, Ft. Myers, Greensboro, Mobile, Raleigh, St. Louis, Tucson Vista Healthplan - Ft. Pierce, West Palm Beach WellCare - Atlanta, Chicago, New York (Rockland County), Rochester HealthMetrix Research Inc. 614-236-8345
HealthMetrix Research Inc.
CONTACT: HealthMetrix Research Inc., +1-614-236-8345
Web site: http://www.medicarenewswatch.com/
Source: PRNewswire
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