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Almost 4.4 million people will see at least a 20% increase in their 2022 Medicare Part D plan premiums

Category: Annual Medicare Plan Changes
Published: Oct, 16 2021 02:10:02


As was true in past years, many 2021 stand-alone Medicare Part D prescription drug plans will be increasing their monthly premiums in 2022.  In fact, based on current Medicare plan enrollment, around 13.6 million Medicare beneficiaries will see their stand-alone 2021 Medicare Part D premiums increase in 2022.

More importantly, almost 4.4 million Medicare beneficiaries currently enrolled in stand-alone 2021 Medicare Part D prescription drug plans (PDPs) will see at least a 20% increase in their monthly premium if they stay enrolled in their current plan into 2022 - with over 150,000 people currently enrolled in a 2021 Part D plan seeing their premium double in 2022.

2022 PDP Premium Increase/Decrease Summary
Percentage Premium Increase Nbr of Members* Cumulative Nbr of Members*
100% or more 150,118 150,118
50% to 99% 245,354 395,472
20% to 49% 3,996,959 4,392,431
10% to 19% 4,860,601 9,253,032
1% to 9% 4,376,197 13,629,229
no change 174,604  
-1% to -9% 1,043,542 1,043,542
-10% to -19% 574,107 1,617,649
-20% to -49% 867,971 2,485,620
-50% to -66% 16,864 2,502,484

*Note: These enrollment figures do not include members who will be crosswalked to a new plan, but do include members who are eligible for the Medicare Part D Low-Income Subsidy.


Some of the largest 2022 Medicare Part D plan premium increases are highlighted in the table below:

Highlights of the Larger stand-alone Medicare Prescription Drug Plan
Premium Increases
2022 Plan Name 2021
Premiums
2022
Premiums
Premium Increase Percent Increase States Members Affected
Elixir RxPlus (PDP) Ranging from
$14.30 to $15.60
Ranging from
$20.30 to $72.50
up to
$57.40
up to 380% 27 states
291,375 members will see at least a 30% premium increase. Members in TX will see a 380% premium increase.
Cigna Essential Rx (PDP) Ranging from $22.80 to $24.00 Ranging from $27.70 to $47.30 up to $23.30 up to 90% all states 242,100 members will see at least a 21% increase in premium.
Clear Spring Health Premier Rx (PDP) Ranging from $13.30 to $16.70 Ranging from $15.50 to $40.20 up to $26.60 up to 196% all states 119,761 members will see at 20% increase in premium.
AARP MedicareRx Saver Plus (PDP) Ranging from $22.70 to $70.10 Ranging from $27.40 to $77.90 up to $13.90 up to 52% all states 472,969 members will see at 20% increase in premium.




However, there is good news for some plan members: 2022 Premium Decreases

Approximately 2.5 million Medicare beneficiaries will see a decrease in their 2022 Medicare Part D plan premium.  The largest decrease is the New Jersey Cigna Secure Rx (PDP) plan where the premium will fall from $63.20 in 2021 to $38.20 in 2022.

Where can you see how your 2021 Medicare plan is changing in 2022?

You can use our PDP-Compare and MA-Compare tools to learn more about how 2021 Medicare Part D and Medicare Advantage plans are changing in 2022.  Both PDP-Compare and MA-Compare show changes in all 2021/2022 stand-alone Medicare Part D prescription drug plans (PDPs) and Medicare Advantage plans (MAs or MAPDs) across the country and include changes in plan features such as premium, deductible, cost-sharing and formulary size changes.

Our Medicare plan compare tools also highlight 2021 plans that will be merged or discontinued in 2022 and new plans that will be added in 2022.

Reminder about looking beyond your plan's low premium

If you are using several brand-name medications or an expensive specialty medication, your monthly Medicare plan premiums may not be a significant part of your annual medication costs.  Be sure to consider the entire cost of your drug coverage when choosing a Medicare plan: premiums, co-payments, co-insurance, additional Donut Hole coverage, and catastrophic coverage.

Not sure whether your 2021 Medicare plan is still the most economical 2022 plan option?

You can telephone Medicare at 1-800-633-4227 to speak with a Medicare representative.  You ask questions about your Medicare plan coverage and learn more about your 2022 Medicare Part D and Medicare Advantage plan options.







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