Seniors encouraged to pay more attention to cost in selecting Part D plans

A study by researchers at Yale School of Management concludes that Medicare beneficiaries, when shopping for coverage, often do not end up selecting the most cost-effective Part D coverage. The conclusion was drawn from analysis of  claims from 1.76 million beneficiaries from 2006 to 2009 and included simulation of how their Medicare Part D expenses would have differed if they had selected other plans. This analysis indicated that “many people paid more for drug-related expenses than necessary, reducing the incentive for companies to provide high-quality coverage at lower costs.” Jason Abaluck, Assistant Professor of Economics at Yale, summarizes the study results in an article published on insights.som.yale.edu. Read the article here…

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