Tag: outpatient prescription drug insurance
In a new study, my colleagues and I tried to figure out how valuable the Medicare Part D program was to individuals – basically whether they should consider it a big deal or a little deal as they plan for retirement. First, some background. The Medicare Part D program, launched in 2006, extended outpatient prescription…
The brief’s key findings are: Medicare Part D provides access to prescription drug coverage for seniors and reduces their cost burden by subsidizing premiums and contributing to cost-sharing. The question is, how large is the lifetime subsidy for a typical 65-year-old? The analysis estimates a lifetime subsidy of about $20,000 to $60,000 per person, depending…