Medicare

Medicare Part D premiums 🔽

Today, the Centers for Medicare & Medicaid Services (CMS) announced that, for the third year in a row, the average basic premium for Medicare Part D prescription drug plans, which cover prescription drugs that beneficiaries pick up at a pharmacy, is projected to decline.

Over the past three years, average Part D basic premiums have decreased by 13.5 percent, from $34.70 in 2017 to a projected $30 in 2020, saving beneficiaries about $1.9 billion in premium costs over that time.

As a result, Part D continues to be an extremely popular program, with enrollment increasing 12.2 percent since 2017.

2 replies »

  1. “As a result, Part D continues to be an extremely popular program, with enrollment increasing 12.2 percent since 2017”. WHAT? If a Medicare eligible beneficiary does not have credible coverage elsewhere, and chooses not to participate in a Part D Plan, they are penalized 1% of the national average every month forever! Yes, I would say it is a very popular program forced on people who use no medications for years. It is a good program but I believe we can do better. Declining premiums are offset by the increased deductible ($415-$435) on many branded products. The average person as they age and perhaps are more susceptible to necessitating medication are bearing the brunt of the decrease in premiums.

    Like

    • That is simply to prevent adverse selection. The same if true for basic Medicare. You can’t allow anyone to only take coverage when they need it. No insurance can work that way.

      Like

What's your opinion on this post? Readers would like your point of view.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s