How to reduce vaccine costs
High insurance co-pays can keep seniors, especially minority seniors, from getting any number of important vaccines. It is a problem that should be solved — and it can be, if Congress would act.
A 2016 study, reported in the American Journal of Pharmacy Benefits, found that of 172,977 initial requests for a vaccine, 67,369 were abandoned — the patient did not get the vaccine — and the main explanation for this 30% abandonment rate was cost.
Contrast this to the COVID-19 vaccine, which is free to all. According to the Illinois Department of Public Health, more than 92% of Illinoisans 65 and older have had at least one shot of a COVID-19 vaccine.
Clearly, when cost is not an issue, seniors get vaccinated.
The problem is rooted in the way Medicare is set up. Those who are covered by Medicare Part D often end up sharing costs as part of various Medicare Part D plans. These costs can be as little as $14 and as much as $103 per vaccine, depending on the situation. Almost 24 million Americans are enrolled in these stand-alone prescription drug plans and consequently subject to the cost sharing.
The solution? In Washington, legislation is pending, the Protecting Seniors Through Immunization Act, that would eliminate these out-of-pocket expenses by aligning Part D coverage of vaccines with Medicare Part B vaccine coverage.
We need Congress to pass this important legislation to ensure that our seniors are getting the medical care they need and deserve. We need it now.
State Rep. La Shawn K. Ford, D-Chicago