Thursday, February 20, 2014

Popular Medicare Drug Plans Are under Assault

National Center for Policy Analysis, February 20, 2014

A new Centers for Medicare and Medicaid Services (CMS) proposal would cause almost 14 million seniors to lose their Medicare Part D stand-alone plans, says Devon Herrick, a senior fellow at the National Center for Policy Analysis.

The Medicare drug program has been popular, and the number of seniors without drug coverage has fallen 60 percent since the Medicare Modernization Act (MMA) was passed in 2003. Seniors have a wide range of plans from which to choose, and drug spending has actually been much lower than projected. Costs per capita in 2013 were projected to be $3,047 but were actually only $1,846, a savings of 40 percent per enrollee.

Of the 39 million Americans enrolled in Medicare, 36 million of them have Medicare Part D drug plans.

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