CMS NEWS
FOR IMMEDIATE RELEASE
July 31, 2018
Contact: CMS Media Relations
(202) 690-6145 | CMS
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Medicare Part D premiums continue to decline in
2019
Today, the Centers for Medicare & Medicaid Services (CMS)
announced that, for the second year in a row, the average basic premium
for a Medicare Part D prescription drug plan in 2019 is projected to
decline. At a time when health insurance premiums are rising
across-the-board, basic Part D premiums are expected to fall from $33.59
this year to $32.50 next year.
“President Trump and Secretary Azar have made clear that prescription
drug costs must come down. The actions that HHS and CMS are taking to
increase competition in order to drive down costs for patients are
working,” said CMS Administrator Seema Verma. “CMS will continue to
strengthen the Part D program and bolster plans’ negotiating power so
they can get the best deal for seniors from prescription drug
manufacturers.”
In Medicare Part D, beneficiaries choose the prescription drug plan
that best meets their needs, and plans have to improve quality and lower
costs to attract beneficiaries. This competitive dynamic sets up clear
incentives that drive towards value, as determined by beneficiaries.
Earlier this year, CMS announced
several changes in the Part D program aimed at further empowering
Part D plans to drive a hard bargain with drug manufacturers and lower
the cost of prescription drugs. Strengthening negotiations is a key
pillar of the Administration’s
Blueprint to reduce prescription drug costs. CMS has been working to
ensure that Medicare Part D plans can leverage all of the tools that are
available to commercial plans in negotiations.
Changes that CMS has made to date include:
- Reducing the
maximum amount that low-income beneficiaries pay for certain
innovative medicines known as “biosimilars.”
- Allowing for
certain generic drugs to be substituted onto plan formularies more
quickly during the year, so beneficiaries immediately benefit and
have lower cost sharing.
- Increasing
competition among plans by removing the requirement that certain
Part D plans have to “meaningfully differ” from each other, making
more plan options available.
- Increasing
competition among pharmacies by clarifying the “any willing
provider” requirement, to increase the number of pharmacy options
that beneficiaries have.
The upcoming annual Medicare open enrollment period for 2019 begins on
October 15, 2018, and ends on December 7, 2018. During this time,
Medicare beneficiaries can choose health and drug plans for 2019 by
comparing their current coverage and plan quality ratings to other plan
offerings, or they can choose to remain in traditional Medicare. The
agency will be continuing to improve the website for Medicare plan
selection, so beneficiaries can more easily compare options and choose
the plan that best meets their needs. CMS anticipates releasing the
premiums and costs for Medicare health and drug plans for the 2019
calendar year in mid-to-late September.
To view the 2019 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 “2019.”
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