Here are a few more 2018 highlights with links to additional information:
- More 2018 stand-alone Medicare Part D plan choices:
Breaking with the trend over the past few years, there will be slightly more 2018 stand-alone Medicare Part D prescription drug plan (PDP)
choices offered in every state. The average number of stand-alone 2018 Medicare Part D plans offered across the country will increase to
23 plans
as compared to the national average of 22 stand-alone PDPs
in 2017. No states will see a decrease in
the number of stand-alone 2018 Medicare Part D plans being offered and a
few states will see an increase of two additional plan choices (North Carolina,
Pennsylvania, and
West Virginia). You can click here
to read more about plan availability and see a chart of how the average
number of Medicare Part D plans has changed since 2007.
- More lower-premium 2018 Medicare Part D plans offered in most states:
Not only will you see more stand-alone 2018 Medicare Part D plan (PDP)
choices, but you may also notice that more lower-premium Medicare Part D
plans are offered in 2018. For example, Medicare beneficiaries in
Texas will find six more 2018
Medicare Part D plans with premiums under $25 as compared to 2017.
- The
lowest and highest premium stand-alone Medicare Part D plans:
The lowest premium 2018 Medicare Part D plan will be the EnvisionRxPlus (PDP) with a
premium of $12.60 in many states. In other states, the Aetna Medicare Rx Select (PDP) plan will
have the lowest monthly premium (for example, in Arizona $12.70).
The 2018 Medicare Part D plan with the most expensive
premium will be the Texas Blue Cross MedicareRx Plus (PDP) at
$197.10 per month. You can click here to
read more about the Medicare Part D plans with the lowest and highest
premiums and how the range of premiums has changed since 2007.
- Many Part D
beneficiaries will see an increase in their 2018 monthly premiums:
The national average 2018
stand-alone Medicare Part D premium will increase by 1%. However,
when premiums are weighted by plan enrollment, the average weighted
Medicare Part D plan premium will increase 9% to $43.69. Based on
premium increases and plan enrollment, around 61% of all Medicare
beneficiaries currently enrolled in a stand-alone 2017 Medicare Part D
plan (PDP) will see an increase in their 2018 monthly premium, unless they
change coverage to a more affordable 2018 Medicare Part D or Medicare
Advantage plan that includes prescription drug coverage. You can click here
to read more about how the average and average-weighted Medicare Part D
plan premiums have changed since 2007.
- Fewer
2018 Medicare Part D plans qualifying for the LIS $0 premium in many
states: Most states will have the same or fewer 2018
Medicare Part D plans qualifying for the state’s Low-Income Subsidy (LIS)
$0 benchmark premium.
For example, the state offering the smallest selection of $0 premium LIS
plans is Florida,
offering two 2018 $0 premium LIS plans. Alaska had the largest
increase in LIS qualifying plans with the addition of two 2018 Medicare
Part D plans qualifying for the $0 premium, increasing the state’s
full-LIS $0 qualifying PDPs to seven. You can click here to
read more about $0 premium LIS plan availability and see a chart of how
the average number of $0 LIS qualifying Medicare Part D plans has changed
since 2007.
- Slightly
more stand-alone Medicare Part D plans with a $0 initial deductible:
As was true this year, most 2018 Medicare Part D plans will have an
initial deductible that can range from $35 to the 2018 standard initial deductible of
$405. As an example, of the 23 plans available in Ohio, nine (9) stand-alone Medicare Part D plans will
have a $0 initial deductible in 2018. You can click here to see
a chart showing the changes in the total number of Medicare Part D plans
offering a $0 deductible since 2007.
- All
2018 Medicare Part D plans will have the standard 2018 Initial Coverage Limit of
$3,750. (Note: The initial coverage limit is the retail
value of your formulary drug purchases that determines when you enter the
Donut Hole or Coverage Gap.) Remember, a few Medicare Advantage plans that offer prescription drug
coverage (MAPDs) may offer a higher Initial Coverage Limit, meaning some
MAPD members will be able to buy more formulary medications before
reaching the 2018 Donut Hole.
- More
2018 Medicare Part D plans will offer some Donut Hole coverage for
purchases made while in the Coverage Gap.
About 35% of stand-alone 2018 Part D plans offer some level of Gap
Coverage. In addition, the 2018 Donut Hole discount
will increase to 65% for brand-name drugs (you pay 35%) and 56% for
generic medications (you pay 44%). Remember, all Medicare Part D
plans honor the Donut Hole discount. You can click here
to read more on the 2018 Donut Hole.
- Some 2018 Medicare Part D plans are changing names or Plan IDs: As in past years, a few stand-alone Medicare Part D plans (PDPs) in your area may be changing their names, Plan ID, or are being discontinued in 2018. As an example, last year the 2016 Symphonix PrimeSaver Rx became the 2017 AARP MedicareRx Walgreens plan and now this year, people in many states will find the 2017 AARP MedicareRx Walgreens plan will change their 2018 Plan ID (S5921, instead of S0522). You can see more Medicare Part D plan changes using our 2017/2018 PDP-Compare tool found here (example showing California PDP changes): PDP-Compare.com/2018/CA.
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. The 2018 Medicare Advantage plan landscape summary will be presented in our next newsletter. A number of the 2018 Medicare Advantage plans may be available in your area and may include comprehensive prescription drug coverage, along with Medicare Part A (hospitalization coverage), Medicare Part B (out-patient and physician coverage), and additional healthcare benefits --these Medicare plans are also called MAPD plans.
Reminder: No need to rush.
The annual Medicare Open Enrollment Period for 2018 Medicare Part D plans and Medicare Advantage plans begins on Sunday, October 15th and continues through Thursday, December 7th, with 2018 Medicare plan coverage beginning on Monday, January 1, 2018. For more information, Medicare beneficiaries can telephone Medicare at 1-800-633-4227 to speak with a Medicare representative.