Half the Senior Citizens in Medicare Drug Plans
Could Have Saved Money with Better Choice
CVS/pharmacy joins National Council on Aging to
assist seniors in finding best plan for 2009
Nov.
13, 2008 Half of the senior citizens in the Medicare Drug Program
would have saved over $250 this year, if they had done a better job of
selecting a plan that fit their situation. It least that is what is
indicated in a survey by CVX/pharmacy. The drug retailer has joined
forces with the National Council on Aging to assist and encourage
seniors to take the time to find the best plan possible during this open
enrollment period.
| |
Related Stories |
|
| |
Private Website Releases Online Tool Showing Changes
in Medicare Part D Plans for 2009
PD-Compare only such tool freely available to the
public, says Medicare-PartD.com
Nov. 13, 2008
Medicare Tightens Compensation Rules for Selling
Medicare Advantage, Drug Plans
Industry spokesperson commends CMS on guidelines
for agent and broker commissions
Nov. 11, 2008
Medicare Open Enrollment Just 5 Days Away; Seniors
Shocked at Drug Plan Price Increases
CMS urging senior citizens to start their research
now to save on costs in 2009; two private companies join forces to offer
plans online
Nov. 10, 2008
Medicare Drug Plan Data for 2009 Now Available Online
for Senior Citizens to View Options
Open enrollment is Nov. 15 through Dec. 31 Links
below to key information at Medicare
Oct. 10, 2008
More
Than a Million Low-Income Seniors Being Moved to New Medicare Drug Plans
Avalere Health says low-income beneficiaries will
again see choices shrink in 2009
Oct. 9, 2008
Senior Citizen May Get a Shock When They See
Medicare Drug Plan Premiums for 2009
Medicare administrator urges every senior to check
their plan and other options
Oct. 8, 2008
Medicare has Created Wild West Marketplace, Older
Americans Ripe for Exploitation
President of Medicare Rights Center on choice of
prescription drug and Medicare health plans for 2009
By
Robert M. Hayes, President, Medicare Rights Center
Sept. 26, 2008
Average Medicare Drug Plan to Cost $3 More in 2009 but Lower Price
Options Available to Most
National average monthly premium for basic drug
benefit in 2009 projected to average $28; Medicare Advantage available
to all
Sept. 25, 2008
Read the latest
news
>
Medicare
>
Medicare Drug Program
>
Senior Politics
>
Today's
Headline News |
|
The Open Enrollment Period for Medicare Part D
opens November 15 and runs through December 31. CVS/pharmacy the
nation's leading retail pharmacy and NCOA are educating seniors on how
to identify the right Medicare prescription drug plan at the most
affordable cost.
Among the resources is CVS/pharmacy's online
Medicare Part D Calculator that offers easy access to personalized Part
D comparisons, available at
www.cvs.com/medicare.
In addition to providing an online resource,
CVS/pharmacy says in a news release that it has been educating seniors
on the importance of reviewing plans through outreach efforts with NCOA,
including senior center visits, direct mail and in-store communications.
CVS pharmacists have been trained on the Medicare Part D plan changes,
and are available to advise seniors based on their unique prescription
history and predicted changes for 2009.
"This year, seniors can expect to see changes in
most Medicare Part D plans affecting monthly premiums, co-payments and
even which drugs are covered," said Dave Purdy, vice president, pharmacy
operations, CVS/pharmacy.
"The good news is that those eligible for Medicare
Part D can see significant savings and receive better coverage if they
take the time to review their plans, and change their plan if
appropriate. The CVS/pharmacy Medicare Part D Calculator is extremely
useful in helping seniors navigate the maze of monthly premiums,
deductibles, prescription co-payments and covered drugs in order to find
the right plan for them."
"We urge people who qualify for the prescription
drug benefit to consider their options and realize the potential to
save," said Stuart Spector, Senior Vice President, NCOA. "Prescription
drug coverage can make a significant difference in the health and lives
of people with Medicare, especially those with limited income and
resources who may qualify for the extra help."
When evaluating plans, CVS/pharmacy and NCOA
recommend three factors for consideration:
Cost: What is the plan deductible, monthly
premium and prescription co-pay for the prescriptions you regularly
take?
Coverage: Are the prescription medications
you regularly take covered in the plan? Are there restrictions such as
prior authorization?
Convenience: Can you fill the prescription
at the pharmacy of your choice?
The CVS/pharmacy Medicare Part D Calculator guides
seniors through this decision-making process step by step. After
entering basic information such as ZIP code, current prescription drug
coverage, and prescription medications, seniors are guided through a
series of options:
Seniors can indicate whether they prefer to find
plans with the lowest annual cost or find plans that cover all current
medications with the fewest coverage limitations even if it means paying
higher annual costs
They can also make choices about medication in the
coverage gap - also known as the "donut hole"
Seniors can find out if they qualify for Extra Help
from the Social Security Administration
Lastly, seniors are presented with a list of the
top plans that best meet their needs, including information on estimated
annual cost, monthly premium, deductible, limitations on medications and
gap coverage. The plans can be compared by each criterion.
About CVS/pharmacy
CVS/pharmacy, the retail division of CVS Caremark
Corporation (NYSE: CVS), is America's leading retail pharmacy with more
than 6,800 CVS/pharmacy and Longs Drugs stores. CVS/pharmacy is
committed to improving the lives of those we serve by making innovative
and high-quality health and pharmacy services safe, affordable and easy
to access, both in its stores and online at CVS.com. General information
about CVS/pharmacy and CVS Caremark is available at
www.cvscaremark.com.
About NCOA
The National Council on Aging, a non-profit
organization headquartered in Washington, DC, is a national voice for
older Americans especially those who are vulnerable and disadvantaged
and the community organizations that serve them. NCOA turns creative
ideas into effective programs that help millions of the nations seniors
live independently, find jobs and benefits, manage their health and
contribute to their communities. For more information, visit
www.ncoa.org.
