Based on the current 2015 Medicare Part D plan enrollment, we can estimate that around 77% of Medicare beneficiaries enrolled in a stand-alone Medicare Part D plan can expect to see
an increase of around $7.40 in their monthly 2016 Medicare Part D plan premiums - unless they change their Medicare plan coverage to a more affordable 2016 Medicare Part D or Medicare Advantage plan.
As was true in past years, our national
PDP-Facts page provides both the average national stand-alone Medicare Part D plan premium weighted by current Medicare plan enrollment (or popularity) (
$41.34 in 2016), as well as the un-weighted national average premium (
$53.83 in 2016).
As might be expected, the weighted average Medicare Part D premiums are lower than the un-weighted average premiums, showing that most Medicare beneficiaries chose a Medicare Part D plan with a lower monthly premium.
On the positive side, the overall average, un-weighted 2016 Medicare Part D premium (not considering plan enrollment) has increased only slightly (from $53.14 to $53.83), showing that the monthly Medicare Part D plan premiums have generally remained somewhat stable over the past plan-year.
However, the national average monthly 2016 Medicare Part D premium, weighted by the number of people enrolled in each plan will increase to $41.34 or
13% over the 2015 weighted monthly premium of $36.68, with actual average monthly premium increases varying by state or Medicare region. This means that if everyone stays in their current 2015 stand-alone Medicare Part D prescription drug plan through 2016, beneficiaries will see an increase in their monthly premiums.
Here is a graph showing how the average and weighted-average stand-alone Medicare Part D premiums have changed since 2007.
As a state level example, 89% of the Medicare beneficiaries in CMS PDP Region 2 (that includes:
CT,
MA,
RI, and
VT) who are enrolled in a stand-alone Medicare Part D plan can expect an increase in their 2016 monthly Medicare Part D premiums. The average increase is $5.40.
In other states, 67% of the people enrolled in a
North Carolina stand-alone Medicare Part D plan can expect an average increase in their 2015 monthly Medicare Part D premiums of around $8.42.
Whereas,
99% of the people enrolled in a 2015
Florida stand-alone Medicare Part D plan can expect an average increase of around $8.15 if they stay in their same plans through 2016.
Reminder: Your Medicare plan
costs and coverage can (and probably will) change each year.
If you are interested in changing your Medicare plan enrollment, the annual Open Enrollment Period (or Annual Election Period) for
Medicare Advantage plans and Medicare Part D drug plans begins on
October 15 and continues through December 7, 2015.
Not sure where to begin?
If you or another Medicare beneficiary needs assistance understanding
how your 2015 Medicare plan is changing or to learn more about your 2016
Medicare plan coverage options, please call 1-800-MEDICARE
(1-800-633-4227) and speak with a Medicare representative.