I’ve been looking at 2008 versus 2009 Stand Alone Prescription Drug prices. I’m only looking at one region (region 6, PA and WV), so I don’t know if this would apply nationally. I divided the PDP plans into 3 groups: those that have Generic Gap coverage, those that have $0 deductible and those with a deductible.
Here is what I found:
| Plan Type | # in 08 | # in 09 | Avg. $ 08 | Avg $ 09 | Avg. % increase | Max % increase |
| Gap Coverage | 17 | 13 | $60.36 | $75.76 | 26% | 83% |
| No Gap, No Deductible | 20 | 19 | $32.50 | $41.15 | 27% | 78% |
| No Gap, with Deductible | 26 | 25 | $28.02 | $33.96 | 21% | 81% |
In an article “The Reading Eagle” Newspaper Nov. 7,2008 issue titled “Changes in Medicare drug co-payments expected” I’d like to quote a paragraph: “Premiums at the 10 largest drug plans are expected to rise 31% on average next year (2009), with some increases topping 60%, according to an analysis by consulting firm Avalere Health LLC” Not only the co-pays but also the premiums. Humana’s has to be the worst. Only today I had 7 individuals ask me: “Do you know of any other Drug plans available”? My Humana is going from $35 /mon to $43/mon and they are raising their co-pays. Well of course. Seems to me Advantra, in my area, actually has dropped their premium for Standard plan from $22.90 to $22.20/mon premium but has not raised co-pays. That’s a no brainer. Again I have never been hit with this question as much as here recently. POINT IS WE SHOULD SERVICE OUR MEDICARE MEMBERS and do a little extra homework as to the financial stability of the companies one deals with(especially with the financial situations the way they are now) to reassure your client is well taken care and trust Ritter IM’s help and decisions (WHICH IS THE BEST IN THE NATION)! For the sake of any Medicare member and you as a broker: please don’t let Humanna eneter the seen. I would be discrased to present Humanna, let alone entrust one of my clients to Humanna. Do the homework: read “The Summary of Bnefits Book” Lets get out there and take care of our seniors, they need us!!
[...] I’d be willing to bet that with the MAJOR CHANGES in PDP’s for 2009, 80-90% of PDP members would be better served by making a change. See my prior blog – CMS Warns Medicare Beneficiaries to Review 2009 Stand Alone Prescription Drug Plans (PDP). [...]