Brand drug costs make up 75% of Medicare’s costs for Part D, even though most people take generics.
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Medicare Part D and Deficits
In 2010, Part D made up 13.4% of the Medicare budget, or $68 billion. Even with seniors paying premiums for their Part D plans that range from $15 to $90 per month, Medicare still paid out $68 billion in 2010 to subsidize their drug costs!
2011 Part D Enrollment: Winners and Losers
Medicare beneficiaries can change their Part D drug plan at the end of end of every year. Once they are in a plan, most are “locked in” for the next year. The numbers are in for 2011 enrollment in Part D drug plans, and the winners and losers are:
Health Care Reform Law and Part D
All the delays in passing the health care reform bill will also delay positive changes to Part D coverage. Seniors were supposed to get relief this year, but it appears that people who fall into the doughnut hole in 2010 will only get a $250 rebate. Changes that were supposed to take effect in 2010 have been moved to 2011.
Small Increase for 2010 Part D Premiums
Part D drug premiums are expected to rise about $2 in 2010.
