Last week’s Medicare Part D in 2016 and Trends over Time report from the Health Policy Institute at Georgetown University and the Kaiser Family Foundation provides a snapshot of Part D in 2016 and trends over the past decade. A previous post covered Part D enrollment trends from over the past decade. Part D premiums for most beneficiaries enrolled in PDP plans increased in 2016. This increase marked the end of 6 years of little change. As the chart below indicates, MA-PD plans in 2016 continued the recent trend of modest growth. Close to 50% of beneficiaries in 2016 enrolled in MA-PD plans paid no monthly premium for Part D coverage.
As might be expected, geography plays a considerable role in Part D premiums. PDPs offering comparable benefits can vary by as much 6 times the cost, depending on the region. Even within the same geographic area, there can be large differences in stand-alone PDP premiums.
In the coming days, we will take a closer look at 2016 Medicare Part D benefits, the LIS program, and plan performance ratings.