Lets face it the real beneficiaries of the Medicare Part D Rx Drug Plan are the Drug companies and the Insurance companies. The seniors on Medicare will benefit little if at all.
Marion and I were at the local CVS Pharmacy filling a prescription for an Ointment that relieves fever blisters. Marion was dealing with the pharmacict and I was shopping for batteries for our Gate Opener.
Marion found me in Xmas lights and said, "Honey are you ready for the price they want?"
"Let me guess" I answered, "about $50 ?"
"No its $95." she said. "Then I asked if they considered my TRS-Caremark Discount Card. They hadn't; so I got them to reprice it.. they still want $88. That only saves $7. I think I can forget buying this."
"Well the doctor prescribed it... you get blisters from time to time... " I replied. "It probably will be a lifetime supply... If it has good shelf life I think you should invest in it"
I went back with her and, while she purchased it, I asked the Pharmicist about the New Plan D.
"Will I pay the same for this drug under the new Medicare Plan D?" I asked.
"Yes you will." he replied, "Any benefits you get will come from the Insurance Company when you file with them."
"The dicsount card will no longer be honored, is that true?". I was on to something.
"Thats true... we will collect the full price," he answered.
"Then Medicare Part D will be less Headache for you and you will sell at full price, Right?" I asked.
" That's true."
I felt like Michael Moore doing one of his famous interviews... too bad I didn't have a TV camera to record it all. I had the goods on the Drug Companies.
I need help to establish just where my new premiums will go... The Government will collect the money? Or the Insurance company will collect the money?
I think the answer is, "All of the money I pay for premiums goes to the Insurance companies."
The Insurance companies will need to hire a bunch of GED Level claims adjusters and pay them. They will use the money for that, and more computers, and more answering machines, and more 800 Numbers.
That does not buy any Drugs for Seniors. I think the Medicare plan D program probably funds the drug claims. This is the part I am not sure of.
Here is my understanding of how the program will work.
If I buy Exactly $250 in drugs my annual expense will be $250 to the Drug Company plus $400 to the Insurance Company. Total $650 cost for $250 drugs. Not a Good Deal! Medicare pays a claim $0.0.
More realistically One of us has Drug bills of about $1,350 per year the other about $3,250. After meeting plan deductibles and premiums for the year, plan D will reimburse $381 of the $1,350 expense for one of us and $1,056 of the $3,250 expense for the other.
Summarizing. We buy $4,600 worth of drugs. We pay $800 in premiums. Medicare pays us $1,431 in claims. Adjusted Cost 4,600 + 800 - 1431 = $3,969 That is a good deal, right? The drug companies and the insurance companies want you to think so. So does George because his plan "gave" us $1,431. But remember we paid a $800 premium. Total savings over not participating 4600 - 3969 = $ 631.
Here is Ed's Plan. Buy the same drugs in Canada and take advantage of the cheaper prices. Get the same stuff for 39% less. That means I pay $2,806. Instead of $4,600 and save $1,794. Plus I don't have to shell out $800 to the insurance company. Total Savings = $2,594.
This is Better than Medicare Plan D.... I don't pay premiums, I have no dedictible to meet. The Canadian government negotiated a great deal.
Several States have recognized the savings possible and are buying Canadian drugs for their State employee benefit plans.
Medicare Plan D is crafted by the Drug and Insurance companies and pushed forward by George Bush. He will Never allow negotiations for reduced prices from the Drug companies. This might actually benefit Senior citizens.
I plan to opt out of Medicare Part D unless it will reimburse Prescriptions Purchased in Canada... Then it might be a Good Deal.
Fat chance of that happening... That loophole has been shut in secret negotiations between the drug Lobbyists and the Republican party.
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