Medicare Prescription Drug Card plan
confuses Seniors, offers no real
savings
for many being pressured to enroll
Winnipeg, Manitoba
–A study conducted by
www.UniversalDrugStore.com , a leading mail order pharmacy
operating in Canada, reveals that contrary to claims of savings for
seniors enrolled in the Medicare Prescription Drug Card Plan D, the
mandatory plan will in most cases actually cost seniors more than if
they choose to fill their prescriptions utilizing savings available
from a licensed, registered Canadian pharmacy. The Canadian option
over the past 5 years has saved Americans in need of affordable
prescription drug coverage an average of 42%.
The study further
reveals that only those seniors that spend between $1656 and $2600
annually in 2006 for their prescription medications will realize any
savings greater than what the Canadian option now delivers. In
essence, this will amount to savings no greater than 7% on the
Canadian prices or $13 or less each month. Outside of that
beneficial range the savings realized by ordering through a Canadian
pharmacy will be greater, and seniors spending less than $800 per
year will actually lose money under Medicare, due to monthly
premiums, co-payments on drug purchases and the annual
deductible. ;
Jeff Uhl, president
and CEO of
www.UniversalDrugStore.com Universal Drug Store , says that the
company’s findings of the impact of the prescription drug card plan
on America’s senior citizens illustrates that the plan is ‘confusing
and flawed’.
Uhl sees inevitable
problems for this plan. First and foremost is the confusion about
the plans themselves.
“Seniors are being
deluged with information about different plans, each claiming to be
superior to that of a competitor. It would probably take months for
any individual to properly study and choose a plan that is best for
them. Even after making their decision, many individuals do not
realize they are locked in but the plan they have chosen can change
at any time. This can mean increased premiums, increased co-pays,
reduced drug coverage and myriad stipulations that may greatly
reduce the benefits, “ he explains.
He cites other
flaws in Plan D, including that year after year the monthly
premiums, the annual deductible, the main benefit limit and the
catastrophic coverage starting point continue to rise:
“For example, the
estimated annual premium rises $386 in 2006 to an estimated $696 in
2013. It is also estimated that the catastrophic coverage starting
point will increase from $5100 in 2006 to $9068 in 2013. This will
mean greater out-of-pocket expenses and higher annual expenditures
for seniors. Also, the plan does not offer a benefit for the
working people who lack health insurance, whereas
www.UniversalDrugStore.com is available to anyone seeking
significant savings on their prescription drugs,” Uhl explains.
Another weakness of
Plan D is the mandatory signup that penalizes seniors if they delay
joining the Medicare Plan, Uhl says.
“This might lead
some seniors to believe that since they are forced into a plan, it
is to their advantage to participate actively in it. What they may
not realize is that participation is not mandated and they can
potentially incur unwanted costs rather than obtain any benefit.”
Uhl notes that the
pharmaceutical companies will be the biggest beneficiaries of Plan D
since they have the sole discretion to set prescription drug
prices.
“For more than
three years,
www.UniversalDrugStore.com has worked to establish an open and
quality relationship with America’s seniors and others who are un-
or underinsured,” notes Uhl, who is himself a pharmacist. “This has
been based upon offering low costs, quality prescriptions, and
strong customer service, all elements lacking in Plan D.
“That is why we
look confidently to continuing to be an important part of meeting
the prescription drug needs of America’s seniors and others. In the
next few months, we will be conducting an extensive educational
outreach to illustrate to seniors why Plan D likely is not their
best option, a fact that the pharmaceutical companies and plan
administrators—who are the ones who will truly profit from the
confusion and fear being spread among seniors—are doing their utmost
to mask.”
