2009 Landscape of Plans
During the upcoming annual Medicare Part D enrollment period (November 15th - December 31st) beneficiaries should take the time to reconsider their options. Many new plans have entered the market, and some have dropped out. Plans which remain in the Part D market are allowed to make significant changes to the benefit parameters, structure, and characteristics. Even if a plan name is the same, it can look very different the next year.
Most importantly, total annual costs to the consumer may change very significantly each year. Some drugs may be dropped from the formulary and others added. Plans may also change how they design their formularies, into which tier a medication is placed, and the cost sharing for a drug.
All of this may have a large impact on the beneficiary, but the details will not be known until specific information is available on the plan finder on or after October 9. At this time of year, every year, the importance of reviewing prescription drug plan coverage to find the most suitable Medicare Part D prescription drug plan cannot be stressed enough.
- For important findings, links, and additional information, go to curxed.human.cornell.edu/docs/2009_Landscape.pdf.
- The CURxED home page is at curxed.human.cornell.edu/. It will publish and post the new data by November 15th, the start of the annual open enrollment period.
- The Center for Medicare and Medicaid Services (CMS) plan finder – to be updated by October 9 – is at www.medicare.gov.
