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Monday, September 22, 2014

70% of Medicare Drug Plan Users Just Don't Switch Even Though Some Would Get A Better Deal

People are indeed creatures of habit, even if it costs them money. Kaiser Family Foundation reports today:

"Part D enrollment is highly concentrated, with five firms—UnitedHealth, Humana, CVS Caremark, Express Scripts, and Aetna—accounting for 63% of enrollees in 2014.3 While beneficiaries have the option to choose among dozens of plans each year, and often could save money if they switch plans, most (7 out of 10) beneficiaries who were in a PDP during all four annual open enrollment periods from 2006 to 2010 did not voluntarily switch plans in any of the enrollment periods.4"

Click here to read the entire report