This is why we hate healthcare insurance companies.
As per a post on Friday September 19, and more Massachusetts Part D detail that became available on September 21, the news is not good for Massachusetts Medicare beneficiaries who use a standalone Part D drug plan1. But it's too soon to tell a lot about all of the 20% of us Massachusetts Medicare beneficiaries on public Part C Medicare Advantage and other Part C health plans. In my opinion it does not look good for that group of us either looking quickly at my own plan.
And watch for the tricks your insurance company might play. Mine - Tufts -- has a doozy. Based on a public website called HealthPocket that has begun analyzing the Part C Medicare numbers nationwide, my personal health plan premium actually went down a half a buck a month... Wow that's good news you say. BUT wait! It also looks like Tufts added a $100 annual deductible for my drug costs where there is none this year. That's more than an $8 a month premium increase from $65.60 or a 12%-13% raise.
Can't entirely blame Tufts though. Because of the Patient Protection and Affordable Care Act of 2010 as amended -- better known as Obamacare -- Tufts is now building a large tax into my monthly premium to pay for healthcare for people that have not yet joined Medicare.
1Typically if you have a standalone drug plan you have an individually purchased Medigap plan (e.g., Blue Cross Medex Bronze) as a supplement or you receive retiree healthcare insurance from a former employer