And based on a preliminary analysis of only the 2021 stand-alone Part D plans, we found that the national average 2021 Medicare Part D premium (not considering plan enrollment) increased from $40.90 in 2020 to $41.38 in 2021, supporting the CMS projection that the monthly Medicare Part D plan premiums would increase slightly as compared to 2020.
However, we also found that the national average monthly 2021 Medicare Part D premium, weighted by the number of people currently enrolled in each plan, will increase to $40.70 a 8% increase over the 2020 weighted monthly premium of $37.72.
Bottom Line: This means that many current members of 2020 Part D plans can expect to see increases in their 2021 Part D plan premiums - unless they consider moving to a lower-premium 2021 Part D plan.
You can read more about the average and average weighted national Medicare Part D premium in our article: " Sixty-seven percent of Medicare Part D beneficiaries can expect higher monthly stand-alone 2021 Medicare Part D prescription drug plan premiums"
Please note, the average monthly premium in each state or Medicare region will vary from the national average and can be seen in our 2021 Medicare Part D plan analysis found at PDP-Facts.com (you can see state-specific summaries by clicking on your state abbreviation).
Here are a few highlights of the lowest and highest monthly Medicare Part D premiums across the country.
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The lowest-premium 2021 stand-alone Medicare Part D plans...
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The lowest-premium 2021 stand-alone Medicare Part D plan - with a $0 deductible...
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The 2021 stand-alone Medicare Part D plan with the highest premium...
The chart below shows how the low and high Medicare Part D premiums have varied over the past years.
Reminder: The annual Open Enrollment Period (AEP or Annual Election Period) for Medicare Advantage plans and Medicare Part D drug plans begins on October 15 and continues through December 7.
Don't forget that your Medicare plan costs and coverage can change each year - so be sure to evaluate your plan options during the AEP.
If you or another Medicare beneficiary needs assistance understanding how your 2020 Medicare plan is changing in 2021 or to learn more about your 2021 Medicare plan coverage options, please call 1-800-MEDICARE (1-800-633-4227) and speak with a Medicare representative.