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This resource page provides pertinent information for consumers and insurance professionals compiled by the American Association for Medicare Supplement Insurance. Material may be shared and used. We would greatly appreciate credit to the “American Association for Medicare Supplement Insurance” with links back to this webpage. Thank you.
Seniors account for one-third of all prescription medication use.
Medicare prescription drug plans are a valuable way to pay for the increasing cost of drugs. But they can vary in coverage and cost. The Association makes available a 100% free and 100% private way to compare drug plans. Access the online tool for compare Medicare drug plan options.
According to researchers, about 60 percent of older adults take their prescription drugs improperly and approximately 140,000 die each year as a result.
Anther study finds that “older adults who fail to take prescribed medications were 76% more likely to experience a significant decline in their overall health compared to those who took all the medications as prescribed.”
The typical senior will have 60 different Medicare drug plans available to choose from (2021). This will vary based on where one lives.
Half (30 plans) will be ‘stand-alone’ plans purchased directly by the individual. The other choice is a Medicare Advantage plan that includes prescription drug coverage. It pays to consider the pros and cons of both options.
To reduce the cost of prescribed medications, seniors do NOT take their medication as prescribed (6.1% of those between ages 65 and 74). and 2.9% of those 75 or older.
Nearly a fifth (19.9%) ask their doctor to prescribe a lower cost medication. All of this is a reason to make sure a senior picks the best Medicare Drug plan for their particular health needs.
Medicare drug plan information not found here? Reporters and editors. You can call or Email us and we will work to get the data you are seeking. Phone Jesse Slome at 818-597-3205.
Looking for Long Term Care Insurance statistics and facts. Visit our sister organization.