North Dakota’s 2024 Medicare Part D plan overview |
Introduction: |
Based on the 2024 Medicare Part D prescription drug plan information released by
the Centers for Medicare and Medicaid Services (CMS), North Dakota seniors and Medicare
beneficiaries will find that 2024 will bring a number of changes to their prescription drug
coverage and beneficiaries should be prepared to see how their current 2023 Medicare Part D
plan is changing in 2024. To assist, we now have our 2024 PDP-Compare Annual Notice of Change (ANOC) tool
online to show basic changes in plan coverage at PDP-Compare.com/2024/ND.
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 2024 MA-Finder. |
What’s new for North Dakota’s |
North Dakota 2024 Medicare Part D premium increases and decreases: Of the 22 Medicare Part D plans available in North Dakota for 2024, 5 plan(s) will lower their premiums and 17 will increase their premiums. Currently, 64.3% of North Dakota residents enrolled in a stand-alone Medicare Part D plan are enrolled in one of the 17 plans with a premium increase. The average premium increase for members of these plans will be $7.81 per month. |
The 2024 average monthly Medicare Part D premium in North Dakota will increase: Overall, the average monthly 2024 prescription drug plan premiums in North Dakota will increase 5.99% from a 2023 average monthly premium of $47.78 to a 2024 average Part D plan premium of $53.77. 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, North Dakota residents can expect to see a 9% increase in their monthly premiums. This means that if everyone stays in their current 2023 prescription drug plan through 2024, then across the state we can expect beneficiaries to pay 9% more for their monthly premium. As reference, the national average monthly Medicare Part D premium will . North Dakota will have fewer Medicare Part D (PDP) plan choices: Locally, North Dakota residents will find that the total number of stand-alone 2024 Medicare prescription drug plans has decreased from 24 in 2023 to 22 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 2024 Medicare Part D Plans available in North Dakota at PDP-Finder.com/2024/ND. As a note, if you find that your current 2023 Part D plan is not being offered in 2024, 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 2024 prescription drug plan or whether you will need to actively choose a new 2024 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 increase: The premiums within North Dakota will range from $0.50 (Wellcare Value Script (PDP) in IA MN MT NE ND SD WY) to $123.50 (MedicareBlue Rx Premier (PDP) in IA MN MT NE ND SD WY) — as compared to the 2023 North Dakota monthly premium range of $4.70 to $113.60. In comparison, across the country the 2024 Medicare Part D plan premiums range from a low of to a high of . Fewer Medicare Part D plans with a monthly premium under $25: North Dakota residents will have fewer lower premium Medicare Part D (PDP) plans from which to choose. There will be 5 plans having a premium under $25, a decrease from the 6 Part D plans under $25 offered in 2023. 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 2024 stand-alone Medicare Part D plans (PDPs) changed their initial coverage limit — defining when you enter the Coverage Gap. More Medicare prescription drug plans will offer some level of Coverage Gap protection: The selection of prescription drug plans with Donut Hole coverage has also changed with more companies offering 2024 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 2023, 5 plans offered plans with some form of Donut Hole coverage and in 2024 that number will increase to 6 plans. 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 2024 generic drug discount of 75% and brand-name drug discount of 75%. You can read more Donut Hole Discount here. Fewer Medicare prescription drug plans are offered with enhanced options: North Dakota residents will find that fewer Part D plans will offer enhanced prescription drug coverage options with 14 enhanced Part D plans in 2024 as compared to 15 in 2023. 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 2024, fewer North Dakota Part D plans will offer prescription drug coverage with a $0 initial deductible (3 plans in 2024 as compared to 4 plans in 2023). Low-Income Subsidy recipients in North Dakota will have fewer Medicare Part D plans that qualify for the $0 monthly premium: North Dakota Medicare beneficiaries who qualify for full "Extra Help" will find that fewer Part D plans qualify for the $0 premium Low-Income Subsidy as compared to last year. In 2023, 6 Medicare Part D plans qualified for the $0 premium Low-Income Subsidy as compared to 5 Part D plans in 2024. Please note, if you received "Extra Help" in 2023 and your plan does not qualify for the $0 premium in 2024, 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: North Dakota seniors and Medicare beneficiaries will see fewer prescription drug plan choices in 2024 and can expect to see higher monthly premiums. In addition, behind the numbers, some of 2023’s more popular Medicare Part D plans will change their 2024 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 2024 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 2024. 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 2024. What is the Bottom Line? Review your 2024 Medicare prescription drug plan options. Important Dates: Medicare Part D Plan Marketing begins: October 1, 2023 Annual Open Enrollment Period: October 15, 2023 through December 7, 2023 New Coverage begins: January 1, 2024 For more information, Q1Medicare.com has developed national and state one-page interactive summaries of prescription drug plan information. You can review the 2024 North Dakota Medicare Part D Facts page at PDP-Facts.com/2024/ND Questions? Please let us know by clicking here for our Help Desk. Click here to review Medicare Part D plan statistics for the 2024 plan year. |