Back in July 2020, the Centers for Medicare and Medicaid Services (CMS)
projected
that the average 2021 basic monthly Part D premium should be around $30.50 per
month - an increase of $0.50 from the 2020 projected average premium of $30.
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.
-
The lowest-premium 2021 stand-alone Medicare Part D plans . . .
Hawaii
has the lowest monthly premium stand-alone 2021 Medicare Part D plan.
The
SilverScript SmartRx (PDP) will offer a monthly premium of
$5.70
for Hawaii residents. SilverScript will offer the same Part D plan in all other states
with premiums ranging from
$6.20
(in
New Mexico) to
$7.80
(in
Oklahoma).
-
The lowest-premium 2021 stand-alone Medicare Part D plan - with a $0 deductible . . .
The 2021 Medicare Part D plan with the lowest monthly premium - and a $0 initial deductible -
is the
Illinois Indy Health EliteRx (PDP) plan, with a premium of
$43.30 per month. However, the 2021 SilverScript Plus (PDP) plan is the lowest-premium $0 deductible plan in
many other states with premiums ranging from $52.20 in
Wisconsin to $88.60 in
Oklahoma.
-
The 2021 stand-alone Medicare Part D plan with the highest premium . . .
The 2021 Medicare Part D plan with the highest monthly premium continues to be the
BlueCross Rx Plus (PDP) in South Carolina at
$205.30 as compared to last-year's premium of
$191.40 per month.
The chart below shows how the low and high Medicare Part D premiums have varied over the past years.
For more information, please see our
PDP-Facts.com/2021 for Medicare Part D premium highs and lows in your state.
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.