Obamacare Open Enrollment and Prescription Drugs: eHealth Drug Coverage Comparison Tool Can Deliver Significant Savings on Critical Rx Costs
eHealth reports median potential savings of
At eHealth.com, people can enter their prescription drugs into eHealth’s drug coverage comparison tool and find the Obamacare plan that covers their prescription drugs at the lowest possible price. While all major medical health insurance plans cover prescription drugs, health plans often differ in the specific drugs they cover and the out-of-pocket costs enrollees will face.
eHealth analyzed over 25,000 sessions where a customer used the tool outside of open enrollment in 2016. In sixty-four percent of those sessions (over 16,000) people who used the tool found potential savings if they switched to the plan optimized for their prescription drug regimen:
-
The median amount that could be saved was
$1,650 -
70% found
$500 or more in potential savings -
25% found
$4,000 or more in potential savings -
Overall, men found more potential savings
($2,086) than women($1,272) -
By age group, potential savings were highest among adults between the
ages of 60-64
($2,019) and 40-49($1,969) vs. other age groups - The average person entered 2 prescription drugs into the tool when comparing plans
“Too many people waste money on prescription drugs because they don’t
compare the coverage offered under different plans , but now there’s no
excuse to stick with a plan that doesn’t meet your needs,” said eHealth
CEO
Significant potential Rx savings for shoppers who use eHealth’s comparison tool
In the tables below, eHealth identifies median potential savings for
users of the drug coverage comparison tool who visited the company’s
website
Median potential savings overall | ||||||||
$1,650 | ||||||||
Median potential savings by gender | ||||||||
Female: | $1,272 | |||||||
Male: | $2,086 | |||||||
Median potential savings by age | ||||||||
Age 0-19: | $1,652 | |||||||
Age 20-29: | $1,264 | |||||||
Age 30-39: | $1,645 | |||||||
Age 40-49: | $1,969 | |||||||
Age 50-59: | $1,697 | |||||||
Age 60-64: | $2,019 | |||||||
Distribution of potential savings by % of tool users* | ||||||||
$1 - $500 | 31% | |||||||
$501 - $1,000 | 10% | |||||||
$1,001 - $2,000 | 13% | |||||||
$2,001 - $4,000 | 20% | |||||||
$4,001 and higher | 26% | |||||||
* Numbers may not add to 100% due to rounding |
||||||||
Drugs most commonly entered by anonymous tool users
The ten most common drugs entered by health insurance shoppers into eHealth’s drug coverage comparison tool include the following:
- Adderall, a drug commonly used to treat ADHD and other conditions
- Lisinopril, commonly used to treat high blood pressure and heart failure
- Levothyroxine, commonly used to treat hypothyroidism
- Metformin, commonly used to treat type 2 diabetes
- Vyvanse, commonly used to treat ADHD
- Synthroid, a brand-name version of levothyroxine
- Atorvastatin, commonly used to treat high cholesterol
- Duloxetine, commonly used to treat depression, anxiety and other conditions
- Lantus, commonly used to treat diabetes
- Buproprion, commonly used to treat depression and aid smoking cessation
Drugs most commonly entered that did not generate savings
The five most common drugs entered by health insurance shoppers into eHealth’s drug coverage comparison tool which did not yield potential savings for customers include:
- Saxenda, used to regulate appetite
- Imatinib, used to treat certain types of cancer and other related diseases
- Keytruda, used in cancer immunotherapy
- Clozaril, used to treat schizophrenia
- Viagra, used to treat erectile dysfunction in men
Methodology
In preparing the analysis above, eHealth reviewed more than 16,000 user
sessions in which anonymous consumers utilized the drug coverage
comparison function at eHealth.com
eHealth
For more health insurance news and information, visit eHealth's Consumer Resource Center.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161031005273/en/
Source:
DMA Communications for eHealth, Inc.
Sande Drew, 916-207-7674
sande.drew@ehealth.com
or
eHealth,
Inc.
Nate Purpura, 650-210-3115
nate.purpura@ehealth.com