Wednesday, April 27, 2011
What's Wrong with Medicaid Part D
My brother's Medicaid Part D prescription plan is administered by HealthSpring, an HMO that does not operate in Michigan. Healthspring's quarterly earnings report is due April 28, predicted to be up year-over-year. The two drugs prescribed here are Forest Laboratories. Lexapro's patent is ending in 2012, when we can hope for generics, or I can go find a generic equivalent myself, which I intend to do now. Plan D paid $214.06 for the month. For those of us math challenged, that's $2,568.72 a year for two medications. And who or what is "extra help?" Forest Laboratories paid a $313 million fine for fraud connected to some of its drugs, including Lexapro. Is it a coincidence that the psychiatrist prescribed the same pharma company's drugs? CEO Howard Solomon is in receipt of a letter banning him from participation in federal health programs. He's got 30 days to respond. Forest Laboratories reported 4th quarter fiscal earnings jumped. Earnings are up for all except our family, and millions more like us. What can I do to keep Medicaid Part D costs down? Check for generics, keep tabs on federal healthcare program participants, question the psychiatrist for generic choices. In short, be my family's healthcare ombudsman and advocate.