However, the national average monthly 2013 Medicare Part D premium weighted by the number of people enrolled in each plan will increase to $40.63 or 8% over the 2012 weighted monthly premium of $37.57, with actual average monthly premium increases varying by state or Medicare Part D region. This means that if everyone across the country stays in their current 2012 prescription drug plan through 2013, we can expect beneficiaries to pay 8% more for their monthly premiums.
Again, based on current plan enrollment, this means that around 83% of seniors and other Medicare beneficiaries can expect to see an increase in their 2013 Medicare Part D plan premiums with an average monthly increase of around $3.85 – if they stay in their current plan through 2013.
On a state-level example, if you are a resident of Pennsylvania or West Virginia, you might notice that the overall (un-weighted) average 2013 Medicare Part D premium will increase to $59.53 as compared to the 2012 average monthly premium of $56.91. But, when taking into account enrollment, 96% of Pennsylvania and West Virginian residents can expect an increase in monthly Medicare Part D premiums of around $3.56.
Alternatively, residents of New York will see a slight decrease in average 2013 Medicare Part D premiums, with the average premium decreasing to $54.95 as compared to the 2012 state average premium of $55.45. (Again, as a state-level example, the 2013 average weighted Part D premium based on Medicare Part D plan enrollment or popularity for residents of New York will actually increase to around $43.61, an 11% increase over the 2012 weighted average Part D plan premium of $39.13.)
As another example, seniors in the state of California will find an average 2013 premium weighted by enrollment of $40.91, a 7% increase over the 2012 average weighted Part D plan premium of $38.09. However, the overall average (not weighted by enrollment) for 2013 Medicare Part D plans in California actually decreases to $57.85 as compared to the 2012 California average, non-weighted Medicare Part D premium of $58.97.
Bottom Line: As in past years, on our PDP-Facts pages we provide the average stand-alone Medicare Part D prescription drug plan premium weighted by current Medicare plan enrollment (or popularity), as well as the un-weighted average that provides a general overview of state or national premiums.
Expectedly, the weighted monthly premium averages are lower than the straight premium average, showing that the majority of people have chosen a Medicare Part D plan with a lower monthly premium - and these same people can expect a 2013 premium increase. On the other hand, the overall average 2013 premium (not considering plan enrollment) has decreased only slightly, showing that the monthly Medicare Part D plan premiums have remained somewhat stable over the past plan-year.
Be prepared to shop around for more affordable prescription drug coverage. These examples show that, although there are many options in each state for Medicare beneficiaries to lower their monthly premiums, the majority of seniors who stay in their current 2012 plan will probably see a premium increase in 2013.