Kaiser Family Foundation Releases Report on Medicare Part D Trends

This article hits some of the highlights from that report. Part D Enrollment and Plan Availability Since 2006, the share of Medicare beneficiaries enrolled in a Part D plan has increased from 52 percent to 71 percent of all eligible Medicare beneficiaries. In 2016, nearly 71% of all Medicare beneficiaries nationwide are enrolled in Part D plans, including plans open to everyone and employer-only plans designed solely for retirees of a former employer. The percent of Medicare beneficiaries with Part D coverage in 2016 varies from state to state, from 56% in Alaska to 89% in North Dakota. Additionally, while 60% of Part D enrollees are in PDPs, the share who are in MA-PD plans has risen from 28% in 2006 to 40% in 2016. That growth is roughly in line with overall growth in Medicare Advantage enrollment. Interestingly, there are five states (Arizona, California, Florida, Hawaii, and Oregon) where MA-PD plan enrollees account for over half of all Part D enrollees. In 2016, three Part D sponsors accounted for more than half of all Part D enrollees: UnitedHealth, Humana, and CVS Health. This market concentration has increased slightly since 2006, but more so among PDPs. While UnitedHealth and Humana have had large market shares since the program began, CVS Health enrollment grew primarily through acquisition of other plan sponsors. Part D Premiums Average monthly PDP premiums rose in 2016 after being essentially flat since 2010, with the average monthly premium for PDP enrolle...
Source: Policy and Medicine - Category: American Health Authors: Source Type: blogs