Posted on 12/31/2006 6:34:30 AM PST by shrinkermd
The more than two million senior citizens nationwide who signed up last year for Humana Inc.'s least expensive Medicare prescription drug plan face average premium increases of 60 percent -- and in seven states, increases of 466 percent -- starting tomorrow . The higher prices will affect about 50,000 seniors in Massachusetts, where premiums are going up by 130 percent, from $7.32 to $16.90 a month.
Medicare added the prescription drug benefit in 2006, and in most states dozens of drug plans with varying coverage are available through insurance companies. Healthcare advocates say Humana kept its prices low in 2006 to gain market share. The strategy may prove lucrative, they say, because many seniors spent considerable time researching and selecting their drug insurance and were unlikely to switch plans for 2007, despite increased premiums.
The roughly 3.5 million members in Humana's three prescription drug plans nationwide were notified by mail of the price changes by Oct. 31. Enrollment for 2007 Medicare drug benefit, called Part D, ends today.
...Even though premiums are 130 percent higher in Massachusetts, Humana's Standard plan is still the state's second-lowest-priced Medicare drug insurance. Nationwide, Humana premiums in 2006 were the least expensive in 46 states, and will remain the cheapest in 38 states in 2007. Hardest hit are seven Midwestern and Western states, where monthly payments are going up 466 percent, from $1.87 to $10.60. The cost for Humana Standard is going down in just three states -- Georgia, Louisiana, and South Carolina.
(Excerpt) Read more at boston.com ...
Any American who votes for a pol with the letters MA (or NY) after the candidate's name, needs his/her head examined.
OoooooOOOOh, BIG Government coming back to stick it to the elderly good.
My 77 year old dad said, "This is just another insurance policy. Once your in premiums will continue to rise." He sold insurance for 15 years.
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Well it looks pretty obvious they did.
Are there restrictions on how often you can change plans? If so that makes it pretty nasty. If not then change plans if it isn't the best deal.
I'm a little tired of hearing about Seniors having to pay more for insurance, medicine, rent, everything. The mentality of this country is already socialist in nature. Social Security is the purest form of socialism. SS was the milestone for today's seniors to expect hand-outs throughout their "golden years". My point. These are the kinds of articles that give idiot power mongers like Hillary legs. This is precisely what she uses to prove her point that health care is too expensive and that it's time for the government to step in and save the day. And because of our "SS Mentality" she'll get her "Universal Health Care". No one has a "right" to health care. It's your responsibility to supply yourself with the means! Planning for one's future is also your responsibilty, not mine! I pay $608 a month for my families health care through Anthem. I'm self-employed and I plan my income accordingly to pay this and all my bills.
As the man said,"If you think health care is expensive now, wait until its free."
Life is unfair. My life insurance premium just jumped 78% because I am 60.
That was predictable, and planned. It was a loss leader to get people to sign up. The executives knew that seniors would not want to change once they were in a plan.
Typical liberal left social program failure.
Humana had the best plan for Medicare D for Arizona - considering my wife's needs. It included gap coverage, after $2500, so we paid very little for prescriptions after September, when we reached that figure. We are using Wal-Mart's mail service, which helps, too.
Humana's stated object was to gather as many senior customers as possible for total health care.
After one year of this plan Humana kept the premium the same but dropped all gap coverage. That means 100% of the prescription costs must be paid by the victim until the magical figure of $3800 is reached.
Our only choice was to drop Humana for Sierra. Who knows what Sierra will do after one year? They have gap coverage - every drug on the formulary, but not as good as Humana for 2006. Others have only generic coverage in the gap for 2007. Sierra Plus is $78 a month.
Our other choice was to keep up the Medicare supplemental with drug coverage. That cost went from $180 per month in 1995 to $550 per month with drug coverage last year. There's no telling what it would become.
If you are confused by this terminology, imagine what it does to people who have no training in insurance and nowhere to turn for help.
Our best help came from Walgreens. They gave a rundown of what the new plans would cover based on our purchases in 2006. That is how I picked Sierra Plus. I spent hours looking up information, phoning, asking questions. When I signed up for Sierra Plus for my wife, I was on hold so long I fell asleep.
Hooray albie!
It's a giant mess. You have to abide by HIPPA regulations and can ONLY speak to the authorized member (there are no husband-wife accounts) or get permission to speak. Lots of relatives & spouses call on behalf of the member, and I can't give them information.
You can only switch plans during the enrollment period, which runs from November 15th - December 31st. There are strict requirements to disenroll. You have to move to another state or if you have creditable coverage through an employer or union. You can't just call up and disenroll.
"I pay $608 a month for my families health care through Anthem. I'm self-employed and I plan my income accordingly to pay this and all my bills."
You are very lucky. My health insurance for me, alone, just went up $100.00 a mnth. I now pay...........$470.00 a mnth just for me.
I think the fact that we already have universal health insurance, in a round about way, is the reason my rates are so high. I can't wait til they actually start calling it that so my rates can go even higher!
The biggest problem is that those who decide what is best for the voters, DO NOT have to abide by the same rules.
The elected officals have the best medical insurance, for life, that the voters can afford, or not afford, for them.
Nothing will ever change until this two seperate sets of rules/laws change.
Insurance is legalized gambling. You are betting that you are going to die and the insurance company is betting you are going to live. Who do the odds favor? From a pure statistical analysis your odds are far better on the Pass line at Donald Trump's casino.
I'm in the health insurance business and even with my miniscule commission our monthly premiums reached over $800 until we both finally hit age 65 and medicare eligibility. This high cost actually diverted money I had intended to invest for some sort of belated retirement. I'm still not taking Social Security but I may soon, just to invest it to off-set the hit I took.
The ironic thing is... Medicare has been the driving force pushing hostital and medical costs through the roof for the past 40 years. Doctors and hospitals have never even tried to distinguish between charges for seniors and those under age 65. The government gave them a blank check for seniors, so they just decided to suck up the money from everybody, no matter what age and here we are today!!!
And this brilliant drug plan has already sent prescription prices soaring!
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