![]() As LIS enrollment in MA-PDs has increased, enrollment in Special Needs Plans (SNPs), a type of Medicare Advantage plan, has also increased. ![]() The Inflation Reduction Act expands eligibility for full Part D LIS benefits beginning in 2024.Ĭonsistent with overall Part D enrollment trends, LIS enrollment in PDPs has declined over time while increasing in MA-PDs MA-PDs now enroll 62% of all LIS enrollees (8.3 million) (Figure 4, Table 1). These additional financial subsidies, also called “Extra Help,” pay Part D premiums for eligible beneficiaries (as long as they enroll in stand-alone PDPs designated as premium-free “benchmark” plans) and reduce cost sharing. In 2023, 13.4 million Part D enrollees (27% of all Part D enrollees) receive premium and cost-sharing assistance through the Part D Low-Income Subsidy (LIS) program. Six in 10 beneficiaries receiving the Part D Low-Income Subsidy are enrolled in Medicare Advantage drug plans In 2023, there are 6.1 million more Medicare beneficiaries with drug coverage under MA-PDs than PDPs. Between 20, the number of MA-PD enrollees increased by 47% (9 million more MA-PD enrollees), while enrollment in PDPs decreased by 12% (3 million fewer PDP enrollees). In 2023, more than half of all Medicare Part D enrollees (56%, or 28.3 million) are enrolled in MA-PDs and 44% (22.2 million) are enrolled in stand-alone PDPs, continuing a trend of declining enrollment in PDPs and increasing enrollment in MA-PDs, reflecting enrollment growth in Medicare Advantage plans overall (Figure 1, Table 1). More than half of all Medicare Part D enrollees are in Medicare Advantage drug plansĪ total of 50.5 million people with Medicare are currently enrolled in plans that provide the Medicare Part D drug benefit, including plans open to everyone with Medicare (stand-alone PDPs and MA-PDs), and plans for specific populations (retirees of a former employer or union and Medicare Advantage Special Needs Plans, or SNPs). While lower premiums can make MA-PDs attractive to enrollees, coverage in a Medicare Advantage plan also comes with limits on provider networks and utilization management restrictions that do not apply in traditional Medicare. Cost-sharing requirements for covered drugs in MA-PDs and PDPs are different, making comparisons of out-of-pocket drug costs difficult. Average premiums and deductibles for drug coverage are much lower in MA-PDs than in stand-alone PDPs. ![]() This analysis highlights the substantial growth of Medicare Advantage drug plans in the marketplace for Part D drug coverage, where enrollment overall is concentrated in a handful of large plan sponsors. This brief analyzes Medicare Part D enrollment and costs in 2023 and trends over time, based on data from the Centers for Medicare & Medicaid Services (CMS). The Medicare Part D program provides an outpatient prescription drug benefit to older adults and people with long-term disabilities in Medicare who enroll in private plans, including stand-alone prescription drug plans (PDPs) to supplement traditional Medicare and Medicare Advantage prescription drug plans (MA-PDs) that include drug coverage and other Medicare-covered benefits. ![]()
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