Seniors taking prescription drugs should check 2023 drug plans, advises AAMSI – InsuranceNewsNet

Los Angeles, CA October 28, 2022 –(PR.com)– Prices for a record number of prescription drugs rose in 2022 according to data reported by the American Association for Supplemental Medicare Insurance (AAMSI).

“Most drug plans renew once a year in January, when they can charge more for various drugs,” says Jesse Slome, director of the Medicare-focused organization. “Many price increases are nominal, but some can be quite significant, so it’s essential to check now.”

Slome shared the importance of comparing Medicare drug plans with a group of seniors with stand-alone Medicare Part D coverage. “Medicare gives every senior the opportunity to review their coverage for the next year and to switch to the best plan based on the medications she’s on,” Slome says.

In January 2022 some 3,239 drugs saw price increases. This is up from 3,164 the previous year and 2,394 in 2019. “The average increase in drug prices was 10% last year,” says Slome. “With prices increasing for so many things, I expect prices to increase further for 2023.”

A free online drug plan comparison tool is made available by the American Association for Supplemental Medicare Insurance. “No personal information is entered other than a zip code,” adds Slome. “The system will compare over 4,700 plans to find the best one in your area.”

Access to the Medicare Drug Plan Comparison Tool can be found on the Association’s website at https://www.medicaresupp.org/best-medicare-drug-plans-2023 /.

The American Association for Medicare Supplement Insurance champions the importance of consumer education and supports insurance and financial professionals who market Medicare insurance solutions. Visit their website for more information at https://medicaresupp.org.

Contact information:
American Association for Supplemental Medicare Insurance Jesse R. Slome 818-597-3205
Contact by email
https://www.medicaresupp.org

Read the full story here: https://www.pr.com/press-release/872241

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