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) ($42.70 in 2017), as well as the un-weighted national average premium ($51.96 in 2017).
As may be expected, the weighted average Medicare Part D premiums are lower than the un-weighted average premiums, showing that most Medicare beneficiaries chose a 2016 Medicare Part D plan with a lower monthly premium.
On the positive side, the overall average, un-weighted 2017 Medicare Part D premium (not considering plan enrollment) has decreased slightly (from $53.83 to $51.96), showing that the monthly Medicare Part D plan premiums have generally remained somewhat stable over the past plan-year.
However, the national average monthly 2017 Medicare Part D premium, weighted by the number of people enrolled in each plan will increase to $42.70 or an 11% increase over the 2016 weighted monthly premium of $38.57, with actual average monthly premium increases varying by state or Medicare region. This means that if everyone stays in their current 2016 stand-alone Medicare Part D prescription drug plan through 2017, beneficiaries will see an increase in their monthly premiums.
Here is a chart 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 California who are enrolled in a stand-alone Medicare Part D plan can expect an increase in their 2017 monthly Medicare Part D premiums. The average increase is $9.69.
In other states, 75% of the people enrolled in a Connecticut, Massachusetts, Rhode Island, and Vermont stand-alone Medicare Part D plan can expect an average increase in their 2016 monthly Medicare Part D premiums of around $6.70.
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, 2016.
Not sure where to begin?
If you or another Medicare beneficiary needs assistance understanding how your 2016 Medicare plan is changing or to learn more about your 2017 Medicare plan coverage options, please call 1-800-MEDICARE (1-800-633-4227) and speak with a Medicare representative.