Kaiser Releases Online Drug Calculator

June 23, 2003 (PLANSPONSOR.com) - Employees interested in the out-of-pocket savings they will realize with current prescription drug Medicare legislative proposals will be interested in the Kaiser Family Foundation's new online calculator.

The Medicare Prescription Drug Benefit Calculator allows users to enter their total prescription drug costs and determine what they would pay under the US Senate Finance Committee and the House of Representative Ways and Means/Energy and Commerce Committees’ proposals (See  Medicare Reforms Could Prompt Retiree Health Coverage Exodus ), according to a news release.

For example, seniors with total drug costs of $1,000 – about a third of all seniors are projected to have $1,000 or less in total drug costs in 2006 – out-of-pocket spending would be $637.50 under the Senate plan and $400 under the House plan, excluding premiums. These seniors would pay more under the Senate plan due to the higher co-insurance rate, compared to that under the House plan, Kaiser estimates.

The calculator is available online at  http://www.kaisernetwork.org/drugcalculator  .