Approximately 17,000 Medicare beneficiaries entered their current Medicare insurance plan and the details of their personal prescription drug regimen into eHealth's comparison tool during the last AEP. Based on these and other factors, eHealth identified the Medicare Part D or Medicare Advantage Prescription Drug (MAPD) plan that offered them coverage for their drugs at the lowest cost, according to eHealth's data, calculated by combining premium and out-of-pocket expenses with data on drug costs.
Highlights from eHealth's report:
- Only 8 percent of beneficiaries are in a plan optimal for their drug regimen: 92 percent of eHealth customers using the tool during last year's AEP were not currently enrolled in the optimal plan for their personal drug regimen based on eHealth's analysis
- Switching plans could save Medicare enrollees hundreds per year:
$611was the average annual savings identified if tool users chose to enroll in the optimal plan that eHealth identified for them.
- Switching both MAPD and Part D plans can lead to significant annual savings: Among MAPD plans, the potential average annual savings for eHealth customers who chose to switch to the optimal plan identified for them was
$865; $545was the average annual savings available to beneficiaries who switched to the optimal Part D prescription drug plan.
eHealth's report also identifies the ten most popular drugs entered by users into its prescription drug coverage comparison tool during the last Medicare AEP.
"Prescription drug costs are a big concern for Medicare beneficiaries," said
eHealth's report describes the potential savings identified by users of eHealth's Medicare Prescription Drug Coverage Comparison tool during the Medicare Annual Enrollment Period that occurred
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