Bob Blancato on Exchanges

This study exposes a genuine flaw in a key part of the Act which especially impacts the 25 percent of enrollees in exchanges who are between the ages of 55 and 64. People as they age find their prescription drug costs rise, in part due to increases in chronic conditions. These pre-Medicare individuals may find that signing up for silver exchange plans represented a false economy. While it is true that they may pay less for monthly premiums than gold or platinum exchange plans, they may pay at least several times more in co-pays for prescription drugs, especially for drugs treating chronic conditions. This situation needs to be remedied by plans since 95 percent of those on silver exchange plans are paying for their plans with financial assistance, making them unlikely to have the means to afford high out-of-pocket costs for medications. The Affordable Care Act has actually helped to lower drug costs for seniors enrolled in Medicare Part D. That same law should not allow penalties for those nearing but not yet at the age of Medicare eligibility with high prices on drugs they need.
Source: PHRMA - Category: Pharmaceuticals Authors: Source Type: news