Minimizing out-of-pocket prescription drug costs for Medicare beneficiaries: not just 'a drop in the bucket'.
OBJECTIVE
To identify the frequency of uptake and financial impact of four cost-minimization strategies used to assist Medicare beneficiaries in lowering their out-of-pocket (OOP) costs.


METHODS
Cost-savings analysis.


METHODS
Twelve outreach events were conducted in six different cities throughout Northern and Central California during the 2013 Medicare open enrollment period.


METHODS
Noninstitutionalized Medicare beneficiaries from various socioeconomic backgrounds, including those receiving Medicaid.


METHODS
Potential OOP cost savings for the upcoming year.


RESULTS
In total, 621 beneficiaries were assisted. Part D plan optimization was performed for 535 beneficiaries; the findings indicated that 435 (81%) could save money (average: $1,334) by switching plans in the upcoming year. The results also demonstrated that 28 beneficiaries could save money (mean: $1,274) through a patient assistance program. In total, 16 beneficiaries had self-reported income and/or assets that were low enough to qualify for additional governmental assistance through the low-income subsidy. Finally, less costly therapeutic alternatives were identified for 7 beneficiaries and prescribers accepted recommendations for change in 6 (85%) such cases. In total, beneficiaries could realize more than $770,000 in potential OOP savings from the performed interventions.


CONCLUSIONS
Targeted assistance to beneficiaries through a variety of cost-lowering strategies can help significantly reduce OOP costs and thus may also result in lower cost-related medication nonadherence and improved beneficiary outcomes.
Rajul A
RA
Patel
Kim-Anh
KA
Vo
Tiffany
T
Chu
Kenneth
K
Wang
Shu
S
Lu
Joseph A
JA
Woelfel
Sian M
SM
Carr-Lopez
Suzanne M
SM
Galal
D000368:Aged; D000369:Aged, 80 and over; D017046:Cost Savings; D003430:Cross-Sectional Studies; D016527:Drug Costs; D057915:Drug Substitution / Q000191:economics; D004608:Eligibility Determination / Q000191:economics; D005260:Female; D005102:Health Expenditures; D006297:Health Services Accessibility / Q000191:economics; D006801:Humans; D007182:Income; D007342:Insurance Benefits / Q000191:economics*; D008297:Male; D054524:Medicare Part D / Q000191:economics*; D054539:Medication Therapy Management / Q000191:economics; D008875:Middle Aged; D055553:Prescription Drugs / Q000191:economics*; D014481:United States
D055553:Prescription Drugs