This post is only of interest to those who are eligible for Medicare. Open enrollment ends next Saturday, December 7th.
Medicare Part D is the prescription drug plan benefit. Apparently 90% of those enrolled in these plans don’t ever bother to re-consider their plan choice during the open enrollment period. The 10% of people who do switch plans often lower their out-of-pocket drug costs. When I was managing my father’s Medicare plans, I found that there was huge price variability among the hundred or so drug plans for which he was eligible.
The Kaiser Family Foundation released a report in November about the “inattention” of 23 million Americans who have a Part D drug plan.
For more, read the Kaiser report here:
Or there’s a related New York Times article here: