Thursday, 24 November 2005
New Medicare Drug Plan Puzzles Seniors
The government is launching its new Medicare drug plan early next year, but less than a week before the open enrollment period begins this November, the majority of seniors aren’t on board.
According to a national survey conducted by the Kaiser Family Foundation and the Harvard School of Public Health, more than 6 in 10 seniors say they understand the new benefit either “not too well” or “not at all.”
This could affect enrollment rates in the Medicare program: currently only 20% of seniors studied plan on signing up for the new prescription benefits.
The biggest trouble with seniors’ misperceptions and lack of understanding of the unwieldy program (there are over 40 different plans for seniors to choose from) is that those needing the assistance the most might not be aware of it.
In fact, of the seniors who qualify for the low-income assistance offered by the government (for those who earn less than $15,000 annually), 50% are unaware that they qualify for extra financial help.
To learn more of the study’s findings, visit the Kaiser Family Foundation website.
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