A preliminary analysis of the 2021 stand-alone Medicare Part D prescription drug plan (PDP) data recently released by the Centers for Medicare and Medicaid Services (CMS) shows that Medicare beneficiaries will have more 2021 Medicare Part D PDP options but, the majority of current 2020 plan members will pay higher 2021 monthly PDP premiums (unless they enroll in a lower-premium 2021 Medicare Part D or Medicare Advantage plan).

For an interactive overview of the 2021 Medicare Part D landscape on a national level, please visit see our PDP-Facts.com -- and for a state-by-state analysis just choose your state from the list at the top of the PDP-Facts.com page or use a link such as https://PDP-Facts.com/FL for Florida PDPs.  To help you review the 2021 stand-alone drug plan data in more detail, the Q1Medicare 2021 Part D Plan Finder (PDP-Finder.com/2021) is also online.

Here are a few highlights of the 2021 stand-alone Medicare Part D landscape:

• There will be more 2021 stand-alone Medicare Part D prescription drug plan (PDP) options.
  
  The number of 2021 stand-alone Medicare Part D plans across the country will increase to 996 PDPs - 948 PDPs in 2020 (and 901 plans in 2019).  The average number of Medicare Part D plans available in each state will increase to 29 and Texas will offer the most Medicare Part D plan choices (35).
  
  
• Medicare Part D plans in each state will offer insulin for a $35-or-less copay.
  
  Following the new Part D Senior Savings Model, a number of stand-alone Medicare Part D prescription drug plans in each state will offer different types of insulin for a maximum co-pay of $35 through all phases of  Part D coverage.  For example, Florida will offer 28 stand-alone Medicare Part D plans with 10 of these 2021 stand-alone plans offering low-copay insulin to plan members.  To help identify these plans, we have updated our Medicare Part D Plan Finder (https://PDP-Finder.com) to show the text “insulin coverage $35 or less” alongside the drug plans offering insulin.
  
  
• The average 2021 stand-alone Medicare Part D premium will increase slightly.
  
  In late-July, CMS forecasted a slight increase in the average basic Part D premium.  Our analysis of the 2021 stand-alone Medicare Part D plans (PDP only) also indicates a 1% average increase across all PDP premiums.  Our analysis also found a slight increase in the number of PDPs with a premium under $25.  The lowest 2021 stand-alone Medicare Part D premium is $5.70 (in Hawaii) and the highest monthly premium is $205.30 (in South Carolina).
  
  
• However, 2021 Part D plan premiums will increase for many current members.
  
  Although the average Part D premium is increasing only 1%, about 67% of people currently enrolled in a 2020 Medicare Part D plan will see a premium increase, if they stay with their current plan next year.  Therefore, many people should be able to find a lower-premium Medicare Part D plan or Medicare Advantage plan for 2021.  You can see how each 2020 Medicare Part D plan will change their plan coverage in 2021 at PDP-Compare.com/2021.
  
  
• More Medicare PDPs will have an Initial Deductible.
  
  Most 2021 Medicare Part D drug plans will have some deductible (not a $0 deductible).  However, a higher percentage of 2021 stand-alone Medicare Part D plans will offer enhanced (EA) design features such as an Initial Deductible below the 2021 standard Initial Deductible of $445 (for example, the initial deductible may be: $100, $250, $335, or $395).
  
  
• A few more $0 premium Low-Income Subsidy (LIS) plan options available in 2021.
  
  A few more Medicare Part D plans qualifying for the $0 LIS benchmark premium will be available in 2021.  In 2020 there were 244 LIS $0 plans across the country and in 2021 this number will increase to 259 plans.  However, some states (such as Arizona) will see a decrease in LIS-qualifying Medicare Part D plans.
  

As a reminder!

The annual Open Enrollment Period (AEP) for Medicare Part D plans and Medicare Advantage plans begins on October 15th and continues through December 7th – with new Medicare plan coverage beginning on January 1st.  Starting October 1st, you can telephone Medicare at 1-800-633-4227 to learn more about your 2021 Medicare Part D and Medicare Advantage plan options.

And also, please no unauthorized reproduction of our online content.

All of our content, including this information, is copyrighted and may not be reproduced without our express permission. We also ask that you do not submit this material or any of our content to another website for re-publication. However, you are welcome to forward this information in its entirety to friends, family, and colleagues.

If you would like to see a specific state’s PDP landscape summary, please use the following links to our interactive 2021 PDP-Facts: AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY National Statistics.

Please note:  The above information is from our Medicare Part D plan landscape summaries and is based on stand-alone Medicare Part D prescription drug plans (or PDPs) – and does not include the U.S. territories.

A number of 2021 Medicare Advantage plans (MA/MAPD / MSA / SNP) may be available in your area and may include prescription drug coverage, along with Medicare Part A (hospitalization coverage), Medicare Part B (out-patient and physician coverage), and additional healthcare (and non-health-related) benefits.  You can use our Medicare Advantage plan finder (MA-Finder.com) for an overview of plans in your area (enter your ZIP to get started).


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