A new study shows that Medicare beneficiaries with chronic conditions are likely to save money under the new Part D prescription drug benefit.
The National Health Council's report, "Savings from the Medicare Drug Benefit for Beneficiaries with Chronic Conditions," analyzed government data on Medicare beneficiaries and anticipated savings under the Medicare drug benefit for those with nine common chronic conditions: Alzheimer's disease, arthritis, chronic obstructive pulmonary disease, diabetes, heart disease, hypertension, mental disorder, osteoporosis and Parkinson's disease.
According to the report, many Medicare beneficiaries with chronic conditions can expect to save under the new benefit - sometimes significantly. Those with a single chronic condition can save, on average, about $400 annually on prescription drugs. Those with four or more chronic conditions can save $1,774.
"Access to treatment means healthier lives, lower health care costs and less strain on the healthcare system," said NHC President Myrl Weinberg.
"We show very clearly through this report that the Medicare drug benefit has the potential to have a tremendous, positive impact on both the lives of those with chronic conditions and the system through which they receive their care."
Eighty-six percent of the Medicare population studied had at least one chronic condition. Sixty-six percent had two or more chronic conditions, and 40 percent had three or more.
Medicare beneficiaries with chronic conditions have higher-than-average drug costs. Some will even face annual drug spending that exceeds $5,100, qualifying them for Medicare's catastrophic drug cost coverage.
For example, the findings showed that nearly 40 percent of the study's Medicare patients with Parkinson's disease experienced annual prescription drug costs of more than $5,100. These individuals will save, on average, $3,900 annually under the Medicare drug benefit.
Similarly, 26 percent of beneficiaries in the study who suffered from mental disorders paid an average of more than $8,500 annually for medication. According to the study, Medicare coverage could cut this in half to an average annual cost of $4,400.
Mary Vinson of Tupelo, Miss., has multiple chronic conditions stemming from a rare lung disease that affects women almost exclusively and has no known cause. She knows first-hand that treating chronic conditions can be costly and says that's why she was "so delighted to find a plan under Medicare Part D that will save me more than $4,000 a year in prescription costs."
Enrollment in the Medicare prescription drug benefit continues through May 15. For more information, call (800) MEDICARE. For online help, including a Plan Finder, log on to www.medicare.gov. - NU |
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