Market Strategies' Latest Medicare Part D Tracking Study Indicates High Satisfaction Among Enrolled Beneficiaries With Significantly Lower Out-of-Pock25 May 2006
On Monday, May 22, Market Strategies, Inc. (MSI), a full-service custom and syndicated research and strategic consulting firm, announced key findings from its latest tracking study of Medicare beneficiaries. MSI's study found that enrolled beneficiaries are experiencing relatively few problems in obtaining their medications and estimate that, on average, they are saving about $160 in out- of-pocket costs each month. In addition, most beneficiaries reported no problems in getting their medications and for the small percentage of beneficiaries who did need to switch medications, a small percentage reported problems with the process.
"Quite frankly, we were astounded at the high levels of satisfaction among the enrollees," according to Peter Carlin, Senior Vice President and Head of MSI's Global Life Sciences division. "When beneficiaries begin to experience the donut hole, they may find that they need to make trade-offs with their medications and, as a result, these high levels of satisfaction scores will likely change." Determining how beneficiaries cope with the donut hole will be a focus in MSI's third wave in 2006. The study also captured satisfaction measures with the leading two plans (Humana and UnitedHealthcare/AARP) and an aggregate of opinions toward BlueCross BlueShield plans. "For the most part, beneficiaries are happy with the plans they chose and would be willing to recommend their plan to a friend," reported Carlin.
Additionally, the findings include attitudes and opinions of those who did not enroll in a Medicare prescription drug plan. Current estimates indicate that over four million beneficiaries opted not to enroll in a plan. "Our findings strongly suggest that many healthier beneficiaries who take fewer prescription drugs and spend less out-of-pocket did not enroll in a PDP," stated Jack Fyock, Ph.D., Vice President and Head of MSI's Medicare Strategy division. "These beneficiaries have extremely negative attitudes towards the new benefit and their refusal to enroll in a plan will likely impact the 'risk pool' of those who are enrolled," stated Fyock. As a result, monthly premiums for those who are enrolled will likely go much higher.
Finally, MSI's study also provides more evidence that beneficiaries eligible for the Limited Income Subsidy lack the information and support they need to enroll. "It's unfortunate that those who will likely benefit the most are still the group of beneficiaries that are the least aware of the benefit and report that they are not getting the help they need to enroll," stated Fyock. Government led efforts to reach these beneficiaries may have missed the mark. The Social Security Administration (SSA) and the Centers for Medicare and Medicaid Services (CMS) focused a lot of their outreach effort towards community events. "Our study indicates that less than a quarter of these beneficiaries reported attending a community event about the Medicare prescription drug plans," Fyock said.
This study is MSI's fifth wave of research, with over 7,000 Medicare beneficiaries. For additional information on this study, please contact Jack Fyock at 703.229.5206 or jack_fyock@marketstrategies.com.
Jack Fyock, Ph.D., MSI's internal expert, previously worked with the Centers for Medicare and Medicaid Services (CMS) for more than seven years directing dozens of consumer based research studies regarding beneficiaries' perceptions of the Medicare program and the new Medicare prescription drug benefit. For the past three years he was instrumental in helping CMS understand how beneficiaries and providers would respond to the new prescription drug benefit. One project of particular relevance was his role as lead researcher in the national consumer assessment of the 2006 Medicare & You Handbook, which had over 300 beneficiaries from all over the country review early drafts of the Handbook's attempt to explain the new prescription drug benefit.
The MSI syndicated study featured 1,256 interviews conducted with individuals age 65 and older via telephone between March 27 and April 12, 2006. Post-stratification weights were computed and adjusted to data from the March, 2003 Current Population Survey based upon gender, age (65-70, 71+), marital status and education. Significance testing was done throughout the study at the 5% significance level. Generally, a 95% confidence interval can be obtained by adding or subtracting 3.2% from a proportion based upon the full sample.
Established in 1989, MSI goes above and beyond in delivering unparalleled insight, innovative tools and unique solutions that positively impact clients' ability to succeed. MSI is the 19th largest research firm in the US according to "Honomichl Top 50," published in the June 2005 issue of Marketing News. Corporate headquarters are located in Livonia, MI with regional offices in: Portland, OR; Washington, DC; and New Providence, NJ. Please visit http://www.marketstrategies.com for more information. Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Peter E. Carlin http://profnet.prnewswire.com/ud_public.jsp?userid=10021351 Jack Fyock, Ph.D. http://profnet.prnewswire.com/ud_public.jsp?userid=10021362
Source: prnewswire
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