More importantly, almost 2.7 million Medicare beneficiaries currently enrolled in
stand-alone 2022 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 2023 -
with almost 280,000 people currently enrolled in a 2022 Part D plan seeing their Medicare plan premium
double in 2023.
| 2023 PDP Premium Increase/Decrease Summary | ||
| Percentage Premium Increase | Nbr of Members* | Cumulative Nbr of Members* |
| 100% or more | 277,649 | 277,649 |
| 50% to 99% | 932,606 | 1,210,255 |
| 20% to 49% | 1,459,763 | 2,670,018 |
| 10% to 19% | 3,840,910 | 6,510,928 |
| 1% to 9% | 5,352,568 | 11,863,496 |
| no change | 167,549 | |
| -1% to -9% | 3,191,128 | 3,191,128 |
| -10% to -19% | 1,567,694 | 4,758,822 |
| -20% to -49% | 1,508,858 | 3,076,552 |
| -50% to -79% | 413,170 | 3,489,722 |
*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 2023 Medicare Part D plan premium increases are highlighted in the table below:
| Highlights of the Larger stand-alone
Medicare Prescription Drug Plan Premium Increases |
||||||
| 2023 Plan Name | 2022 Premiums |
2023 Premiums |
Premium Increase | Percent Increase | States | Members Affected |
| Elixir RxPlus (PDP) | Ranging from $20.30 to $72.50 |
Ranging from $26.80 to $66.60 |
up to $44.60 |
up to 220% |
20 states |
189,296 members will see at least a 29% premium increase. 20,387 Members in OH will see a 220% premium increase. |
| Mutual of Omaha Rx Premier (PDP) | Ranging from $30.40 to $37.10 | Ranging from $52.10 to $95.80 | up to $61.70 | up to 183% | all states | 80,946 members will see at least a 51% increase in premium. |
| Elixir RxSecure (PDP) | Ranging from $25.00 to $81.00 | Ranging from $29.10 to $73.20 | up to $32.70 | up to 101% | 29 states | 289,008 members will see at 20% increase in premium. |
| Humana Walmart Value Rx Plan (PDP) | Ranging from $22.70 to $25.00 | Ranging from $30.50 to $44.50 | up to $20.30 | up to 83% | all states | 1,338,693 members will see at 34% increase in premium. |
On the positive side, approximately 3.5 million Medicare beneficiaries will see a decrease in their 2022 Medicare Part D plan premium.
The largest decrease is the SilverScript SmartSaver (PDP) plan in Oregon and Washington State where the premium will fall from $7.70 in 2022 to $1.60 in 2023.
Where can you see how your 2022 Medicare plan is changing in 2023?
You can use our PDP-Compare and MA-Compare tools to learn more about how 2022 Medicare Part D and Medicare Advantage plans are changing in 2023. Both PDP-Compare and MA-Compare show changes in all 2022/2023 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 2022 plans that will be merged or discontinued in 2023 and new plans that will be added in 2023.
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 2022 Medicare plan is still the most economical 2023 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 2023 Medicare Part D and Medicare Advantage plan options.