A Survey Of Seniors About Their Medicare Part D Preferred Pharmacy Network Plan
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1 A Survey Of Seniors About Their Medicare Part D Preferred Pharmacy Network Plan Key findings from quantitative research conducted May 2013 for
2 Methodology National survey among 400 Medicare beneficiaries enrolled in a Medicare Part D Preferred Pharmacy Network plan Survey conducted May 1 5, 2013 Margin of error = ±4.9 percentage points among all enrollees, higher for subgroups 2
3 Seniors are overwhelmingly satisfied with their preferred pharmacy prescription drug plans. Generally speaking, how do you feel about your Medicare Part D prescription drug plan? Somewhat dissatisfied 5% Somewhat satisfied 31% Very dissatisfied 6% Not sure 4% 85% SATISFIED Very satisfied 54% 3
4 Satisfaction is high across the board. Satisfaction With My Medicare Part D Preferred Pharmacy Network Plan: All Enrollees Men Women Age 65 to 69 Age 70 to 79 Age 80/over Income under $25K Income $25K to $50K Income over $50K Take 0-2 Rx medications Take 3-5 Rx medications Take 6 or more Rx medications Live 2 miles or less from pharmacy Live 3 miles or more from pharmacy Satisfied 85% 83% 86% 79% 89% 87% 86% 86% 83% 84% 87% 83% 81% 89% Dissatisfied 11% 12% 11% 17% 11% 10% 14% 10% 11% 16% 14% 9% 4
5 Satisfaction is very high with many aspects of the plan, including number/convenience of pharmacies, availability of medications, and copays/premiums. Very satisfied Fairly satisfied Very/fairly dissatisfied Not sure Pharmacies in network convenient for me My prescription meds available through plan Number of pharmacies in network Cost of prescription meds/copays 81% 12% 4% 75% 1 4% 74% 13% 3% 10% 51% 27% 17% 5% Cost of premiums 47% 31% 16% 6% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 5 A S S O C I A T 5 E S
6 Four in five seniors will be disappointed if their plan is eliminated; two-thirds will be VERY disappointed. If my current plan were eliminated: 80% I would be very disappointed 65% 14% I would be disappointed I would not be disappointed 6 A S S O C I A T 6 E S
7 Disappointment will be high across preferred pharmacy plan enrollees. All Enrollees Men Women Age 65 to 69 Age 70 to 79 Age 80/over If my current plan were eliminated, I would be: Income under $25K Income $25K to $50K Income over $50K Take 0-2 Rx medications Take 3-5 Rx medications Take 6 or more Rx medications Live 2 miles or less from pharmacy Live 3 miles or more from pharmacy Disappointed 80% 80% 80% 7 84% 79% 85% 77% 75% 76% 79% 84% 76% 87% VERY disappointed 65% 63% 65% 5 70% 64% 69% 64% 53% 59% 66% 67% 62% 69% 7
8 Higher costs is the most frequently cited reason that seniors will be disappointed if their plan is eliminated. Why would you feel disappointed if your current plan were no longer available to you? Aggregated Volunteered Responses In Their Own Words Cost of prescriptions: won t be able to afford my medicines Cost: will be too costly, more expensive, a financial burden Happy with my plan, like it, comfortable, working well Will have to start searching again, start looking again, a hassle Convenient Premiums, copays 24% 20% 5% 4% I could not make it; I would not have the money for the drugs. I d have to do something to come up with the money. I would feel that the government is giving up on seniors. Because not being able to afford my meds is a real hardship. It would be like trying to cross the lake without a paddle. 8
9 The cost of premiums and copays are the most important considerations for seniors in selecting their preferred pharmacy plan. These were my two most important considerations when I selected my current plan: Cost of premiums Cost of prescription copays 50% 4 Cost is the top factor for all, regardless of income, age, number of medications they take, and the distance from their pharmacy. Availability of my medications in the plan Convenient pharmacies in network Number of pharmacies in network 29% 33% 9 A S S O C I A T 9 E S
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