Puerto Rico’s 2018 Medicare Part D plan overview |
| Introduction: |
| Based on the 2018 Medicare Part D prescription drug plan information released by
the Centers for Medicare and Medicaid Services (CMS), Puerto Rico seniors and Medicare
beneficiaries will find that 2018 will bring a number of changes to their prescription drug
coverage and beneficiaries should be prepared to see how their current 2017 Medicare Part D
plan is changing in 2018. To assist, we now have our 2018 PDP-Compare Annual Notice of Change (ANOC) tool
online to show basic changes in plan coverage at PDP-Compare.com/2018/PR.
Please note that the information we provide below is based only on stand-alone Medicare Part D prescription drug plans (PDPs). We do not compare stand-alone drug plans directly with Medicare Advantage plans. Unlike PDPs, Medicare Advantage plans provide coverage for Medicare Part A (in-patient hospital coverage), Medicare B (out-patient physician visits), and may include comprehensive prescription drug coverage (called MAPD plans). Medicare Advantage plans may also include additional benefits such as dental, vision, and health club coverage. For more information, seniors can review all Medicare Advantage plans available in their area using our 2018 MA-Finder. |
What’s new for Puerto Rico’s |
| Puerto Rico 2018 Medicare Part D premium increases and decreases: Of the 6 Medicare Part D plans available in Puerto Rico for 2018, 4 plan(s) will lower their premiums and 1 will increase their premiums. Currently, 0.5% of Puerto Rico residents enrolled in a stand-alone Medicare Part D plan are enrolled in one of the 1 plans with a premium increase. The average premium increase for members of these plans will be $3.00 per month. |
| The 2018 average monthly Medicare Part D premium in Puerto Rico will decrease: Overall, the average monthly 2018 prescription drug plan premiums in Puerto Rico will decrease 10.37% from a 2017 average monthly premium of $50.97 to a 2018 average Part D plan premium of $40.60. The average monthly premium discussed above consider all stand-alone Medicare Part D plans equally. Perhaps a more telling average is the weighted average — that is, looking at each plan’s monthly premium weighted by the number of people enrolled in that particular plan. Based on the weighted average, Puerto Rico residents can expect to see a -4% reduction in their monthly premiums. This means that if everyone stays in their current 2017 prescription drug plan through 2018, then across the state we can expect beneficiaries to pay -4% less for their monthly premium. As reference, the national average monthly Medicare Part D premium will . Puerto Rico will have the same number of Medicare Part D (PDP) plan choices: Locally, Puerto Rico residents will find that the total number of stand-alone 2018 Medicare prescription drug plans has not changed and remains at 6 available stand-alone Part D plans. A wide assortment of national and regional Medicare Part D plans are offered in each state or CMS region, with the average number of prescription drug plans offered per state . You can review all 2018 Medicare Part D Plans available in Puerto Rico at PDP-Finder.com/2018/PR. As a note, if you find that your current 2017 Part D plan is not being offered in 2018, you may wish to review your Part D plan’s Annual Notice of Change (or ANOC) letter to see if you will be automatically moved to another 2018 prescription drug plan or whether you will need to actively choose a new 2018 Medicare Part D plan. If you are automatically switched to a new plan for any reason, please review the new plan closely. Automatic plan switches DO NOT take into account your specific medication coverage and pharmacy needs. Check to be sure that your new plan provides the coverage you need. The range of monthly drug plan premiums will decrease: The premiums within Puerto Rico will range from $11.10 (Humana Preferred Rx Plan (PDP) in PR) to $65.30 (EnvisionRxPlus (PDP) in PR) — as compared to the 2017 Puerto Rico monthly premium range of $12.90 to $74.50. In comparison, across the country the 2018 Medicare Part D plan premiums range from a low of to a high of . More Medicare Part D plans with a monthly premium under $25: Puerto Rico residents will have more lower premium Medicare Part D (PDP) plans from which to choose. There will be 2 plans having a premium under $25, an increase from the 1 Part D plan under $25 offered in 2017. Changes in the Initial Coverage Limit: The Initial Coverage Limit (ICL) is the maximum retail value of formulary drugs you can purchase before entering the Coverage Gap (or Donut Hole). All 2018 stand-alone Medicare Part D plans (PDPs) changed their initial coverage limit — defining when you enter the Coverage Gap. The same number of Medicare prescription drug plans will offer some level of Coverage Gap protection: The selection of prescription drug plans with Donut Hole coverage has remained unchanged with the same number of companies offering 2018 Part D plans with some level of additional coverage (over the standard generic and brand-name drug discounts) for purchases made in the Coverage Gap. In 2017, 1 plan offered plans with some form of Donut Hole coverage and in 2018 that number will remain unchanged at one plan. People are reminded to see which drugs are actually covered in the donut hole because some Medicare Part D plans only cover a "few" drugs through the Coverage Gap. Remember, even if your Medicare Part D plan has "No Gap Coverage", you still get the standard 2018 generic drug discount of 56% and brand-name drug discount of 65%. You can read more Donut Hole Discount here. The same number of Medicare prescription drug plans are offered with enhanced options: Puerto Rico residents will find that 2 Part D plans will offer enhanced prescription drug coverage options. Enhanced Medicare Part D coverage includes prescription drug plans that have a lower or no initial deductible and a variation of cost-sharing (for instance, copayments instead of co-insurance). For example, in 2018, the same number of Puerto Rico Part D plans will offer prescription drug coverage with a $0 initial deductible (1 plans in both 2018 and 2017). Low-Income Subsidy recipients in Puerto Rico will have the same number of Medicare Part D plans that qualify for the $0 monthly premium: Puerto Rico Medicare beneficiaries who qualify for full "Extra Help" will find no change in the number of Part D plans qualify for the $0 premium Low-Income Subsidy as compared to last year. In 2017, Medicare Part D plans qualified for the $0 premium Low-Income Subsidy and this number ( Part D plans) does not change for 2018. Please note, if you received "Extra Help" in 2017 and your plan does not qualify for the $0 premium in 2018, you may be automatically moved to a new Part D plan that does qualify for the $0 premium. If this occurs, please check to be sure that your prescriptions are covered on your new plan. If your prescriptions are not covered, you can switch to a plan that will cover your medications. To Summarize: Puerto Rico seniors and Medicare beneficiaries will see the same number of prescription drug plan choices in 2018 and can expect to see lower monthly premiums. In addition, behind the numbers, some of 2017’s more popular Medicare Part D plans will change their 2018 plan structure. Some plans are adding initial deductibles or changing cost-sharing limits (for instance, how much you pay for a covered drug). Accordingly, beneficiaries are reminded to consider their 2018 prescription drug plan options carefully. If you are a Medicare beneficiary and make no decision about changing your existing prescription drug coverage, you will be automatically reenrolled in your existing prescription drug plan — along with any changes that have been made in your plan’s coverage or cost for 2018. If your prescription drug plan will be discontinued, and you are not automatically moved into a new plan, you will need to enroll in another Part D plan or you may not have prescription drug coverage in 2018. What is the Bottom Line? Review your 2018 Medicare prescription drug plan options. Important Dates: Medicare Part D Plan Marketing begins: October 1, 2017 Annual Open Enrollment Period: October 15, 2017 through December 7, 2017 New Coverage begins: January 1, 2018 For more information, Q1Medicare.com has developed national and state one-page interactive summaries of prescription drug plan information. You can review the 2018 Puerto Rico Medicare Part D Facts page at PDP-Facts.com/2018/PR Questions? Please let us know by clicking here for our Customer Help Desk. Click here to review Medicare Part D plan statistics for the 2018 plan year. |