The Medicare Part D plans have changed the documentation regarding the updated cost and coverage of prescription drugs. There are significant changes in the policies and benefits as compared to the year 2006.
Medicare Advantage drug plans still continue to offer coverage for some of the drugs under few brands. This limited coverage puts the enrollees to pay substantial costs from their own pockets and hence, many of them have resorted to changing their drugs.
Medicare drug plans have a huge number of enrollees. While 17.5 million are registered for stand-alone prescription, 9 million are registered with Medicare Advantage drug plans. This totals to a whooping 26 million members.
These drug plans are federally funded and offered enhanced benefits depending on the premiums and utilization management rules. In 2009, there has been a significant increase in the prescription drugs which are a part of the Medicare Drug plans as compared to 3 years before in 2006. In addition, about 1.6 million members were reassigned to new prescription drugs this year.
Due to the extensive benefits, it has been found that though the annual premiums of the part D plans have increased, a majority of the enrolled members have not switched plans.