It’s that time again: open enrollment for Medicare Part D. Ordinarily, items such as this don’t really generate newsworthiness. However, these aren’t ordinary times; given the state of the (healthcare) economy, anytime one connects the dots between the country’s largest care guarantor and the potential for greater coverage pools — it’s time for intense wonkishness to rear its ugly head yet again.

The big question is whether or not Part D makes sense for the consumer. New this enrollment period: (1) premiums will rise another 10% percent;^[1] (2) the vast majority of standalone prescription drug plans (60% or so) will require a deductible in ’10, maxing out at just over $300; (3) finally, with respect to so-called “benchmark” plans,^[2] qualified beneficiaries will still have to pony up a percentage of their premium if they want to stay in their plan or will have to switch plans altogether.

Bottom line, it’s all about cost-sharing as a mechanism for controlling costs, at least with respect to Pharma and Medicare Advantage plans; and, in a pharma marketplace which is forecasted to remain rather staid next year,^[3] profits have to be generated from many levels. Medicare Part D has its share of choices for the beneficiary, but due diligence will be the guide to retaining skin in the game for the patient as savvy health care consumer. | LINK

1. up 50% overall from when MMA (2003) created the part D provision for launch in ’06 [↩]
2. those in which basic Part D is offered for those who qualify for a premium [↩]
3. Many popular brand name medications are scheduled for generic release in 2010. [↩]

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