CMS NEWS
FOR IMMEDIATE RELEASE
August 2, 2017
Contact: CMS Media Relations
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Medicare Issues Projected
Drug Premiums for 2018
This week, the Centers for Medicare & Medicaid Services (CMS)
announced that the average basic premium for a Medicare Part D
prescription drug plan in 2018 is projected to decline to an estimated
$33.50 per month. This represents a decrease of approximately $1.20 below
the actual average premium of $34.70 in 2017.
“We are committed to making prescription drug plan premiums affordable
so that seniors and people with disabilities in Medicare can access the
prescription drugs that they need,” said CMS Administrator Seema Verma.
“This projection is a step forward in fulfilling the Trump
Administration’s promise to lower the cost of prescription drug coverage,
particularly for Medicare beneficiaries.”
The decline in the average premium comes despite the fact that
spending for the Part D program continues to increase faster than
spending for other parts of Medicare, largely driven by spending on
high-cost specialty drugs. As the recent 2017
Medicare Trustees reported noted, growth in Medicare spending on
prescription drugs continues to exceed growth in other Medicare spending
and in overall U.S. healthcare spending.
The projection for the average premium for 2018 is based on bids
submitted by drug plans for basic drug coverage for the 2018 benefit year
and calculated by the independent CMS Office of the Actuary.
The upcoming annual Medicare open enrollment period begins on October
15, 2017, and ends on December 7, 2017. During this time, Medicare
beneficiaries can choose health and drug plans for 2018 by comparing
their current coverage and plan quality ratings to other plan offerings
or choose to remain in traditional Medicare. CMS anticipates releasing
the premiums and costs for Medicare health and drug plans for the 2018
calendar year in mid-September.
To view the 2018 Part D base beneficiary premium, the Part D
national average monthly bid amount, the Part D regional low-income
premium subsidy amounts, the de minimis amount, the Part D
income-related monthly adjustment amounts, the Medicare Advantage
employer group waiver plan regional payment rates, and the Medicare
Advantage regional PPO benchmarks, visit: https://www.cms.gov/Medicare/Health-Plans/MedicareAdvtgSpecRateStats/Ratebooks-and-Supporting-Data.html
and select “2018.”
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