eHealth Prescription Drug Coverage Tool Identifies Average Annual Savings of $1,144 for People Who Switch Medicare Advantage Plans
The drugs most commonly entered into eHealth's online tool include those used to treat high blood pressure, high cholesterol, diabetes, COPD and GERD
SANTA CLARA, Calif., Oct. 14, 2019 -- According to a new report released today by eHealth, Inc. (NASDAQ: EHTH) (eHealth.com), 90% of people enrolled in a Medicare Advantage Prescription Drug (MAPD) plan stood to save an average of $1,144 by switching to a plan optimal for their prescription drug needs. The report also identifies the brand name and generic drugs most commonly entered by Medicare beneficiaries into eHealth's prescription drug coverage tool
- $1,144 was the average potential annual savings for MAPD enrollees, if they switched to the MAPD plan recommended by eHealth's prescription drug coverage comparison tool.
- $798 was the average potential annual savings for Part D enrollees.
- Only 9.3% of MAPD enrollees and 8.4% of Part D plan enrollees were currently covered in the optimal plan for their prescription needs when using eHealth's shopping tool.
- Medications used to treat high blood pressure, high cholesterol, diabetes, COPD and GERD were the most commonly searched for among more than 1 million drug entries on the tool.
"With half of all Medicare beneficiaries living on an annual income of less than $26,200, and the start of Medicare's Annual Enrollment Period (AEP) tomorrow, it's crucial that seniors have access to reliable tools that help them find the lowest cost and most comprehensive Medicare Advantage and Part D plans for their personal needs," said eHealth CEO Scott Flanders.
"eHealth's Medicare plan shopping tools are available for use at no cost to anyone looking for reliable Medicare plan comparisons, whether or not they choose to enroll in a plan at eHealth."
Read the full report.
Medicare's nationwide Annual Enrollment Period (AEP) for the 2020 plan year is scheduled to begin October 15 and continue through December 7, 2019.
eHealth's report is based on Medicare customers who used eHealth's prescription drug coverage comparison tool during last year's Medicare AEP, which ran from October 15 through December 7, 2018. Tool users are invited to enter their current Medicare drug coverage plan and their personal prescription drug regimen. Potential savings are calculated based on combined premiums and out-of-pocket costs.
eHealth, Inc. (NASDAQ: EHTH) owns eHealth.com, a leading private online health insurance exchange where individuals, families and small businesses can compare health insurance products from brand-name insurers side by side and purchase and enroll in coverage online and over the phone. eHealth offers thousands of individual, family and small business health plans underwritten by many of the nation's leading health insurance companies. eHealth (through its subsidiaries) is licensed to sell health insurance in all 50 states and the District of Columbia. eHealth also offers educational resources, exceptional telephonic support, and powerful online and pharmacy-based tools to help Medicare beneficiaries navigate Medicare health insurance options, choose the right plan and enroll in select plans online or over the phone through Medicare.com (www.Medicare.com), eHealthMedicare.com (www.eHealthMedicare.com), GoMedigap (www.goMedigap.com) and PlanPrescriber.com (www.PlanPrescriber.com).
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Senior Director Communications, eHealth, Inc.