Express Scripts survey finds gaps in seniors’ knowledge about health insurance exchanges
ST. LOUIS — Many seniors mistakenly think that health insurance exchanges will replace Medicare, according to a new survey, which attributes much of the confusion to "conflicting chatter" about the Patient Protection and Affordable Care Act, also known as Obamacare.
The survey, conducted in August by pharmacy benefit manager Express Scripts and titled 50 States of Confusion, comes as the OCT. 1, launch of the exchanges draws near. It included 1,101 seniors currently enrolled in a Medicare plan or who would be eligible for one within 12 months.
One-in-five think they can enroll in a medical and prescription drug plan through a health insurance exchange, even though eligibility ends at age 65, while 17% think the exchanges will replace their Medicare plan altogether.
Seniors are also convinced their healthcare dollars must be better managed, the survey found. Of the 46% making changes to ensure they can afford health care, 78% are adjusting their budgets, and 40% are considering temporary employment. Twenty percent are skipping doctor’s appointments, 18% are delaying medication refills, and 14% are skipping doses — all choices that could have adverse effects.
"The conflicting chatter about healthcare reform has seniors confused about what actions they need to take this fall and concerned about their finances," Express Scripts VP government programs Rebecca Rabbitt said. "We need to close this knowledge gap so seniors can make informed decisions about their health and their Medicaid benefits."
Some pharmacy retailers have already sought to address the issue and educate patients about the health insurance programs, with Rite Aid and CVS having sponsored events with Department of Health and Human Services secretary Kathleen Sebelius to announce them. Rite Aid, is bringing insurance agents into its stores to talk to customers and help them enroll, while CVS will sponsor in-store events.
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Teva wins approval for liquid version of cancer drug
JERUSALEM — The Food and Drug Administration has approved a new formulation of a cancer drug made by Teva Pharmaceutical Industries, Teva said Tuesday.
The Israeli drug maker announced the approval of a liquid formulation of Treanda (bendamustine hydrochloride), which it said would eliminate the need for reconstitution.
The drug is used to treat indolent B-cell non-Hodgkin lymphoma that has progressed during or within six months of treatment with Rituxan (rituximab), which is made by Genentech and Biogen Idec, and in patients with chronic lymphocytic leukemia.
FDA approves new Dr. Reddy’s injectable drug
HYDERABAD, India — The Food and Drug Administration has approved an injected drug for the bone marrow disorder myelodysplastic syndrome made by Dr. Reddy’s Labs, the company said Tuesday.
Dr. Reddy’s announced the approval of azacitidine injection in the 100-mg-per-vial strength. The drug is a generic version of Celgene’s Vidaza, and Dr. Reddy’s plans to launch the product in the near future.
Vidaza had sales of about $378.5 million during the 12-month period ended in July, according to IMS Health.