The Demand for Medicare Part D Prescription Drug Coverage

Edited by Florian Heiss, Daniel McFadden and Joachim Winter

in Explorations in the Economics of Aging

Published by University of Chicago Press

Published in print May 2011 | ISBN: 9780226903378
Published online February 2013 | e-ISBN: 9780226903385 | DOI:
The Demand for Medicare Part D Prescription Drug Coverage

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This chapter focuses on the new Medicare Part D prescription drug program. Participation in Medicare Part D requires individuals to make active enrollment and plan choice decisions. Active decisions are made initially when first enrolling in the program, and can be revisited periodically during the program's annual open enrollment periods. Whether consumers make wise choices at these decision points is of interest not only for the evaluation of this particular market, but for consumer-directed health care more generally. The chapter explores how people decided among the prescription drug plan options made available through Medicare Part D, based on their prior drug use, self-rated health, and other factors.

Keywords: Medicare; universal coverage; Medicare Part D; health maintenance organizations; Retirement Perspectives Survey; prescription drug; retirement

Chapter.  10868 words.  Illustrated.

Subjects: Public Economics

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