Work

Take-up of Medicare Part D: Results From the Health and Retirement Study

Year: 2009

Type: article

Abstract: OBJECTIVES: To estimate the impact of Medicare Part D on prescription drug coverage among elderly Medicare beneficiaries and to analyze the predictors of program enrollment ("take-up") among those with no prior drug coverage. METHODS: Multivariate analyses of data from the 2002, 2004, and 2006 waves of the Health and Retirement Study. RESULTS: Take-up of Part D among those without drug coverage in 2004 was high; about 50%-60% of this group had Part D coverage in 2006. Only 7% of senior citizens lacked drug coverage in 2006 compared with 24% in 2004. Demand for prescription drugs was the most important determinant of the decision to enroll in Part D among those with no prior coverage. Many of those who remained without coverage in 2006 reported that they do not use prescribed medicines, and the majority had relatively low out-of-pocket spending. CONCLUSION: For the most part, Medicare beneficiaries seem to have been able to make economically rational decisions about Part D enrollment despite the complexity of the program.

Source: The Journals of Gerontology Series B

DOI: 10.1093/geronb/gbp107

Authors: H. Levy, D. R. Weir

Institutions: University of Michigan, Institute for Social Research

Language: English

Topic: Healthcare Policy and Management

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Good health and well-being

Open Access status: green

Funder: National Institute on Aging