Lowcountry seniors who take part in the popular Medicare Part D program have something to celebrate this week, as the Centers for Medicare & Medicaid Services (CMS) announced that drug premiums in the program will likely remain stable over the next year.
CMS projects that the average premium for a basic Medicare Part D prescription drug plan in 2016 will remain stable, at an estimated $32.50 per month.
“Seniors and people with disabilities are continuing to benefit from stable prescription drug premiums and a competitive and transparent marketplace for Medicare drug plans,” said acting CMS Administrator Andy Slavitt. “While this is good news, we must ensure that Medicare Part D remains affordable for Medicare beneficiaries so that they can have access to the prescription drugs that they need.”
Mark Merritt, president and CEO of the Pharmaceutical Care Management Association (PCMA), applauded the news.
"The popular Part D program continues to be a bright spot in American health care. By offering an abundance of competing choices in each region and using cutting edge, cost-saving tools like pharmacy networks and home delivery the program is a win-win for both seniors and taxpayers," said Merritt.
Also known as the Medicare prescription drug benefit, Medicare Part D was enacted as part of the Medicare Modernization Act of 2003.
The Pharmaceutical Care Management Association (PCMA) is the national association representing America’s pharmacy benefit managers (PBMs) PBMs administer prescription drug plans for more than 210 million Americans with health coverage provided through Fortune 500 employers, health insurance plans, labor unions, and Medicare Part D.