The average basic premium for a Medicare Part D prescription drug plan is slated to drop again in 2019. Basic Part D premiums are forecasted to fall from $33.59 this year to $32.50 next year, according to CMS. Prices also dropped last year.
CMS said in a statement that the price decrease comes in the wake of other recent changes to the program. They include:
The open enrollment period for Medicare begins October 15 and ends December 7. Beneficiaries can choose between any number of Medicare Advantage plans or traditional Medicare.
CMS said in a statement that “in Medicare Part D, beneficiaries choose the prescription drug plan that best meets their needs, and plans have to improve quality and lower costs to attract beneficiaries. This competitive dynamic sets up clear incentives that drive towards value, as determined by beneficiaries.”
AHIP was one of many to react to yesterday’s announcement, releasing a statement saying that CMS’s move shows that the Part D coverage gap discounts save money for patients.