Recent Harvard Study Examines Medicare Part D

According to a recent study by Harvard Medical School in Boston, Medicare prescription drug plans have yielded mixed results for enrolled seniors. While there have been significant gains in coverage due to Medicare Part D, many people are still struggling to meet the high costs of their medication.

The survey, addressing 24234 Medicare beneficiaries, involved questions regarding medication expenses and the personal changes necessary to meet those costs. The survey showed that although Medicare prescription drug plans do offer some substantial coverage to recipients, there are a number of individuals who are negatively affected due to the high financial impact of meeting remaining medication costs.

Before the new Medicare Part D plan was available, in order to meet drug costs, approximately 15.2% of Medicare beneficiaries chose not to fill prescriptions and/or switched to less expensive types, and 10.5% skipped basic needs to pay for necessary medications. In 2004, about 14.1% and 11.1%, respectively, chose to take these measures.

The good news? When Medicare Part D was instated, only 11.5% of recipients reported having to skip or switch medications, and only 7.6% said they were unable to meet needs in order to pay for their medications.

Unfortunately, although there have been substantial improvement in Medicare coverage due to Medicare Part D, the study also showed that not all needs are being met. It seems that in this case, the plans fall short where the financial need is the greatest. The most significant difficulty is for seniors requiring the most expensive drugs, falling between $2250 to $5100.

According to the study, Medicare Part D is, for most seniors enrolled in a plan, helpful in elevating prescription drug costs. However, it also illustrates the fact that there are still gains to be made in creating a system where even the neediest of beneficiaries are able to afford their expensive but ultimately life-saving medications.