eHealth Report Finds Average Potential Annual Savings of $762 for Medicare Beneficiaries Who Optimize Coverage Based on Rx Needs
With costly new pharmaceuticals coming into the market, eHealth's reports illustrates the value of choosing Medicare plans best suited for individual drug needs
SANTA CLARA, Calif., July 15, 2021 /PRNewswire/ -- Today eHealth, Inc. (NASDAQ: EHTH) (eHealth.com) released an analysis that found Medicare beneficiaries enrolled in Medicare Advantage Prescription Drug (MAPD) plans or stand-alone Medicare Part D plans could save an average of $762 per year ($63.50 per month) by enrolling in coverage optimized for their prescription drug needs.
"We know there are few things more alarming to Medicare beneficiaries than high prescription drug costs," said eHealth CEO Scott Flanders. "At a time when expensive new drugs are making their way into the market, our report shows that many beneficiaries could save a lot of money by selecting Medicare plans more closely aligned to their personal prescription drug regimen."
eHealth's findings are based on more than 33,000 user sessions of eHealth's prescription drug coverage comparison tool by Medicare customers during Medicare's Annual Enrollment Period for 2021 coverage, which took place between October 15 and December 7, 2020.
eHealth's prescription drug coverage comparison tool allows many users to identify their drug regimen and their current MAPD or Medicare Part D plan. It then shows them which of the plans offered by eHealth cover their drugs at the lowest combined premium and out-of-pocket cost, and the potential savings to be realized if they switched to the recommended plan.
- Among MAPD enrollees, $873 ($72.75 per month) was the average annual potential savings.
- Among Part D plan enrollees, $708 ($59 per month) was the average annual potential savings.
- 94% of drug coverage comparison tool users could have saved money by enrolling in a more cost-effective plan for their 2021 drug coverage needs.
eHealth's report also identifies the average potential savings for eHealth customers in select states and the top ten brand name and generic drugs entered into the tool by users.
Read the full report for more details.
Average potential savings identified in this report are limited to plans offered by eHealth at the time of tool use and are based on the cost information available to eHealth at the time the tool was used; this cost information is subject to periodic updates and corrections.
eHealth, Inc. (NASDAQ: EHTH) operates a leading health insurance marketplace at eHealth.com and eHealthMedicare.com with technology that provides consumers with health insurance enrollment solutions. Since 1997, we have connected more than 8 million members with quality, affordable health insurance, Medicare options, and ancillary plans. Our proprietary marketplace offers Medicare Advantage, Medicare Supplement, Medicare Part D prescription drug, individual, family, small business and other plans from over 200 health insurance carriers across fifty states and the District of Columbia.