Medicare Part D

Some Good News for Senior Medicare Beneficiaries

14 Oct: Some Good News for Senior Medicare Beneficiaries

Last Thursday, the Obama administration announced that senior Medicare beneficiaries will pay the same premiums in 2015 that they are paying this year and the same as the premiums they paid in 2013. This is good news for seniors who use Medicare, most of whom will pay a premium of $104.90 per month. These premiums fall under Part B of the federal insurance program and affect people who are over 65 years of age. They cover visits to the doctor, outpatient care, and necessary medical supplies. What About Deductibles? Annual deductibles for the majority of people who fall under Part B of the Medicare program will also remain unchanged. It is currently $147 for most people and this will be the deductible…

22 Jul: Medicare Part D nightmares, continued

  We all know — or should know — by now that the Medicare prescription drug benefit (Medicare Part D) was crafted with the needs and convenience of Big Pharma, rather than patients, in mind. That’s why it’s so unwieldy for the consumer. The worst part about Medicare Part D is the so-called “doughnut hole,” described by the Wall Street Journal as “the notorious gap in coverage … where (beneficiaries) generally must begin paying the full cost of their medicines. The doughnut hole kicks in when total drug expenditures by the beneficiary and the plan reach $2,510.” Another egregious element of Medicare Part D, which has gotten less attention, is private “pharmacy benefit managers” charging Medicare beneficiaries MORE for prescription…

02 Jul: Will we have to hit bottom before we reform our healthcare system?

Drug addicts talk about having to “hit bottom” before they finally realize they have to do something about their problem. Are we about to see the U.S. healthcare system hit bottom? Today, UnitedHealth Group, the nation’s largest health insurer, cut its earnings forecast and said it would slash 4,000 jobs. Bloomberg reports: In the Medicare business for the elderly, for which UnitedHealth is the market leader, gross margins declined in plans that provide prescription drugs and specialized coverage for people with chronic diseases, the company said. The company forecast that its overall medical loss ratio, the percentage of premium revenue spent on medical care, would increase to 82.5 percent for the full year, up from its earlier prediction of 81.3…

05 Jan: Nice anti-pharma rant by a Ron Paul supporter

As a Ron Paul supporter named Vicki rants in his nicely done video: Big Pharma’s profit margins are the highest of any industry, beating even the widely perceived thievery of the commercial banks. Big Pharma spends more on lobbying politicians and regulatory bodies than any other industry. The Medicare Part D plan will hand over $800 billion of our tax dollars to the drug and health insurance industry over the next ten years. The elderly could end up paying more for their prescription drugs than they did before under Part D — and a majority of senior citizens could still pay over $2000 a year. Fully a third of the world’s people cannot afford essential drugs. None of these facts…