Copay Solutions Study Projects 47% Savings for Medicare Enrollees under Prescription Drug Plan

National study of Medicare Drug Plan enrollees finds average enrollee will save 47% by enrolling in a plan. Humana is most aggressive bidder on Drug Plan business.

Los Gatos, CA (PRWEB) December 19, 2005 -- A study released today by Copay Solutions found that enrollees in a Medicare Prescription Drug Plan can expect to save 47% from their current annual drug spend. On average, enrollees in the study were paying $3,685 per year for 5.4 prescription drugs. By enrolling in the Medicare Prescription Drug Plan with the lowest total cost, enrollees were able to reap projected savings of $1,741 or 47% of their current annual drug spend.

While the study analyzed Prescription Drug Plan offerings from all of the insurers involved in the Medicare Drug Program, it found that Humana offered the lowest-cost plan to more than 50% of the enrollees.

The study consolidated data from Medicare websites with data collected from enrollees for such items as current drugs, dosage, and cost. The survey sample included 100 enrollees from 93 different zip codes across the U.S.

“Our analysis indicates that the Medicare Drug Program is a solid program and one that has the potential to save people real money,” said George D. Pillari, CEO of Copay Solutions. “We consider this to be a flash estimate of the potential effect of the Medicare Drug Program on the Medicare population and on the organizations offering Prescription Drug Plan insurance products,” he added.

Anecdotally, the Company cited two primary complaints from enrollees who were considering the new Program:

• The belief that the Program was only for low-income citizens and the perceived lack of eligibility led to a lack of interest, and

• The plan selection process was overly complex. Since every plan has a different formulary, deductible and copayment structure, consumers were having difficulty identifying the most important elements in a purchasing decision.

Mr. Pillari added, “Despite the difficulties involved in the plan selection and enrollment process, Medicare enrollees should take the time to identify and enroll in a plan and take advantage of the savings opportunity. The numbers are compelling.”

Copay Solutions is an independent company that helps consumers manage out-of-pocket pharmaceutical and medical costs. http://www.copaysolutions.com

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Press Contact: Sabrina Martinez
Company Name: COPAY SOLUTIONS
Email: email protected from spam bots
Phone: 800-331-2203
Website: www.copaysolutions.com

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