Anybody who has a parent or parents who are in the senior bracket are familiar with the complexities of Medicare Part D. Even those of us in the industry are stumped by the different nuances of this new plan.
With enrollment in full swing, Medicare Part D is having a significant impact on the industry. In the first four weeks, more than 1 million people signed up, with up to 20 million seniors eventually expected to participate. The initial enrollment period ends May 15, 2006. Seniors with existing prescription drug benefits will have to choose to stay with their current coverage or move to a Part D plan; 15 million to 17 million seniors have no prescription drug coverage. Every plan that offers Part D coverage has its own formularies, warded by a plan committee. Patients will have to consider the formularies of each plan when deciding which plan to enroll in, or whether to enroll at all.
For many seniors, Medicare Part D is a lot of cumbersome forms, unintelligible language, and just plain confusing.
The seniors in my life, my father who just turned 70 and my mother who is, well let’s just say 60ish, are having no better luck navigating through the Medicare maze than their friends…