Medicare's Improved Prescription Drug Plan Finder
Web Tool Launches with 2007 Data
2007 Medicare & You handbooks also go into
mail this month
October 13, 2006 Medicare today officially
launched the improvements and additions for 2007 in the Medicare
Prescription Drug Plan Finder Web Tool. The news release says the
changes will make it easier for beneficiaries to get personalized
information about their coverage options and costs for next year. The
2007 Medicare & You handbooks are also being mailed this month to
all senior citizens.
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Links below will take
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The Web tool also will provide new help for people
with Medicare prescription drug coverage who want to consider changing
plans, the Centers for Medicare & Medicaid Services (CMS) announced.
The open enrollment window opens on November 15,
and CMS says the enhancements to the website will help beneficiaries,
who want to find out more about their Medicare drug plan choices, do so
before open enrollment begins.
In addition to new 2007 plan year information,
updates to the Medicare Prescription Drug Plan Finder web tool include a
cleaner look, increased usability, and reduced page scrolling and
includes a Monthly Cost Estimator, a personalized chart illustrating 12
months of expected drug spending for each plan.
New features help users compare plans based on
price and benefit structure, estimate how their monthly costs may vary
over the course of the year, and print clear reports they can refer to
later.
By using the Plan Finder, beneficiaries can focus
on the plan features that they find most important, such as premiums,
formularies, or the availability of coverage in the gap.
The tool can sort plans based on estimated annual
costs, or narrow the search based on the particular features that
consumers find most important to them personally, such as premiums,
formularies, flat copays, low or no deductibles, or coverage in the
gap.
The tool also helps beneficiaries budget for their
prescription drug costs by including a Monthly Cost Estimator that
displays a personalized chart of expected monthly costs under each plan.
Almost four million people with Medicare have
enrolled online in a drug plan themselves, and millions more got help
from friends, family members, and counselors who used Medicares online
tools, said CMS Administrator Mark B. McClellan, M.D., Ph.D.
Based on feedback we received from beneficiaries,
we have added new features to help beneficiaries get the most out of
their Medicare coverage options, build on the high beneficiary
satisfaction rates and take advantage of the low costs weve been seeing
so far.
If you are satisfied with your current plan and
want to stay with it, you dont need to take any further action,
McClellan said. If you want to consider other options, we have enhanced
the tools that make it easier to get the coverage thats right for
you.
People without Web access can get the benefits of
all of the online, personalized plan comparison tools by calling 1-800
MEDICARE (1-800-633-4227), visiting their local State Health Insurance
Assistance Program office for free personalized counseling, or attending
one of the thousands of local enrollment events taking place across the
country from now through December.
Beneficiaries will also receive a copy of the 2007
Medicare & You handbook this month, which includes tips on selecting a
plan and an overview of options. Beneficiaries already enrolled in a
Part D plan will also receive an Annual Notice of Changes that describes
any changes in the benefits of their current plan.
Beneficiaries will have more access to plans that
offer enhanced benefits, and they will get larger discounts on average
on their drug prices, said Dr. McClellan.
For 2007, the tools show that, across all
stand-alone prescription drug plans, overall beneficiary costs are
typically going up by just a few percent, with many commonly used sets
of drugs available at a lower total cost in many plans. In other words,
many beneficiaries MAY actually spend less next year than they are
spending in 2006.
The Medicare Prescription Drug Plan Finder allows
users to compare their current drug plan to other coverage options for
2007 that may be a good fit. People using the tool will find plans
offering lower premiums, price discounts that are larger on average than
those available in 2006, coverage of more drugs, and less utilization
management, according to CMS.
Users will also find more plans offering coverage
in the gap for both generics and brand-name drugs.
As part of an ongoing analysis of overall savings
on drug costs, CMS found that, for the commonly-used drugs that CMS has
been tracking since the drug benefit began, savings will average 53
percent compared to not having coverage, up to a maximum of 68 percent
through the lowest-cost plans available.
In addition, CMS says, as a result of strong
competition, a broader range of plans provide large savings on any
particular sets of drugs. And for beneficiaries who switch to
lower-cost generic drugs (which work identically to the brand-name
drugs) and to very similar preferred drugs in the same drug classes,
very large savings are possible in many plans. Savings may be as large
as 87 percent.
Compared to the 2006 plans, savings are larger and
are more widely available, the agency stated. These savings are
available for the most common prescription drugs used for chronic
conditions such as heart disease, diabetes, high blood pressure, and
osteoporosis, among others.
>> To go to the new Plan Finder Web page
Click Here
>> Medicare home page -
www.medicare.gov
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