Nursing Leadership Health Policy
Health Policy Change
The health policy change encompasses Medicare Part D. Medicare D. is also referred to as the Medicare prescription drug benefit. It is part of the Medicare program that is purposed to bankroll the cost of prescription drugs together with coverage payments for prescription drugs for Medicare recipients (Centers for Medicare & Medicaid Services, 2016). The proposed policy change with respect to Medicare Part D is the reduction and lessening of generic drug copayments to zero. In particular, this alteration will be a form of encouragement for the use of generic drugs amongst Medicare enrollees that are poorer by all in all eradicating their costs for generic drugs. Majority of the members of Medicare Part D that are categorized as having low income give out minimal compensation or nil for Part D prescription drugs. In the past year, with respect to generics, the costs varied between $1.20 and $2.95 whereas for brands, the costs varied from $3.60 to $7.40. It is imperative to note that health care plans are not able to place levels or rank medications of most of the members in Medicare Part D similar to how it is undertaken in other kinds of health care plans in the Affordable Care Act or commercial markets. The implication of this is that it causes members to move in the direction of treatment options that have more value or impact for their
Here comes in the change.
By eradicating copayments for generic drugs as well as some sought after brand drugs, it implies that Medicare plans will be able to make certain that those who enroll spend federal funds in a sensible and prudent manner while gaining accessibility to cost-effective health care. Several Medicare members that have low income, that would feel the deemed minimal $2.95 copayment to be a financial encumbrance, would largely benefit by not having to pay anything at all for obtaining their generic and cost-effective brands of prescribed medication. In turn, this will give rise to augmented adherence to medication by the members. Taking this into consideration, the small group of Medicare members of low income that would opt to go on utilizing brand medications that are not preferred, would have to give out greater payments for such treatments that are less cost-effective (Schultz, 2016).
From my own perspective, adequate safeguard have been put in place for such Medicare members for the reason that there will be an already set up exemption procedure if it turns out that a less costly medication is not clinically suitable for a Medicare Part D member. Decreased federal spending and higher financial accountability for Medicare Part D members would be beneficial in getting rid of those generic copayments.
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