2018 Medicare Part D Plans By State
| State | Average Monthly Premium | Average Deductible |
| ALABAMA | $50.31 | $253.40 |
| ALASKA | $49.36 | $270.00 |
| ARIZONA | $44.51 | $281.30 |
| ARKANSAS | $47.95 | $242.14 |
Who is eligible for Medicare Part D?
Medicare Part D is an outpatient prescription drug benefit available to people who have Medicare (Part A and/or Part B). While technically Part D is optional coverage, Medicare “encourages” you to enroll in Part D by assessing a late penalty if you don ...
How to compare Medicare Part D plans?
- Biggest Medicare changes for 2022
- Medicare proposes limited coverage of controversial new Alzheimer's drug
- AARP interview: new Medicare chief outlines her vision
What is the average cost of Part D?
Today, the Centers for Medicare & Medicaid Services (CMS) issued a proposed rule that would make updates to the Medicare Advantage (MA) and Medicare Part D programs that would lower out-of-pocket prescription drug costs for beneficiaries with Medicare Part D and improve price transparency and market competition.
How much does Medicare Plan D cost?
Medicare Part D provides coverage for prescription medications. The average Part D plan premium in 2021 is $41.64 per month. 1
What were Medicare Part D premiums in 2019?
around $41.21 per month2019 Medicare Part D premiums The average Part D plan premium in 2019 is around $41.21 per month, which is a 2 percent increase from the 2018 average premium. Part D plan premiums can also be subject to a Medicare IRMAA for higher income earners.
What is the national average premium for Medicare Part D?
The estimated average monthly premium for Medicare Part D stand-alone drug plans is projected to be $43 in 2022, based on current enrollment, while average monthly premiums for the 16 national PDPs are projected to range from $7 to $99 in 2022.
Does Medicare Part D have a maximum out of pocket?
Medicare Part D plans do not have an out-of-pocket maximum in the same way that Medicare Advantage plans do. However, Medicare Part D plans have what's called a “catastrophic coverage” phase, which works similar to an out-of-pocket maximum.
What is the standard Part D premium for 2020?
Part D prescription drug coverage helps millions of Original Medicare beneficiaries pay for their medication costs. Those benefits, however, come at a price. Nationwide, the average monthly Part D premium in 2020 is $30.
What is the cost of Medicare Part D for 2022?
Part D. The average monthly premium for Part coverage in 2022 will be $33, up from $31.47 this year. As with Part B premiums, higher earners pay extra (see chart below). While not everyone pays a deductible for Part D coverage — some plans don't have one — the maximum it can be is $480 in 2022 up from $445.
What is the Medicare Part D premium for 2022?
$33The Centers for Medicare and Medicaid Services (CMS) recently announced that the projected 2022 Medicare Part D monthly premium will average at $33. This is an increase from $31.47 in 2021.
What is the maximum out-of-pocket cost for prescription drug coverage under Part D?
3, out-of-pocket drug spending under Part D would be capped at $2,000 (beginning in 2024), while under the GOP drug price legislation and the 2019 Senate Finance bill, the cap would be set at $3,100 (beginning in 2022); under each of these proposals, the out-of-pocket cap excludes the value of the manufacturer price ...
Do all Medicare Part D plans have a donut hole?
All Medicare Part D plans follow the same drug phases. Every prescription coverage plan involves the gap known as the donut hole. Will I enter the donut hole if I receive Extra Help? Those who get Extra Help pay reduced amounts for their prescriptions throughout the year, so they are unlikely to reach the donut hole.
Why is Medicare Part D so expensive?
Another reason some prescriptions may cost more than others under Medicare Part D is that brand-name drugs typically cost more than generic drugs. And specialty drugs used to treat certain health conditions may be especially expensive. Read more about .
What is the 2021 Part D premium?
As specified in section 1860D-13(a)(7), the Part D income-related monthly adjustment amounts are determined by multiplying the standard base beneficiary premium, which for 2021 is $33.06, by the following ratios: (35% − 25.5%)/25.5%, (50% − 25.5%)/25.5%, (65% − 25.5%)/25.5%, (80% − 25.5%)/25.5%, or (85% − 25.5%)/25.5%.
What is the cost for Medicare Part D for 2021?
The maximum annual deductible in 2021 for Medicare Part D plans is $445, up from $435 in 2020.
How much is the Medicare Part D deductible for 2021?
$445Medicare Part D, also known as prescription drug coverage, is the part of Medicare that helps you pay for prescription drugs. When you enroll in a Part D plan, you are responsible for paying your deductible, premium, copayment, and coinsurance amounts. The maximum Medicare Part D deductible for 2021 is $445.
How Much Does Medicare Part D Cost?
Medicare participants typically have to pay several types of costs in order to be part of a Medicare Part D plan. However, the government agency th...
What Does Medicare Part D Cover?
The biggest challenge in selecting a Medicare Part D plan is that each one can have a different customized list of drugs that it covers. Often, you...
Don't Miss Out on The Prescription Drugs That You Need
Part D is the newest part of Medicare coverage, but it has quickly become an essential part of the program for seniors seeking to control their hea...
Find out more about your Medicare prescription drug benefits
Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool.com.
How much does Medicare Part D cost?
Medicare participants typically have to pay several types of costs in order to be part of a Medicare Part D plan. However, the government agency that oversees Medicare doesn't set fixed amounts for most of those costs.
What does Medicare Part D cover?
The biggest challenge in selecting a Medicare Part D plan is that each one can have a different customized list of drugs that it covers.
Don't miss out on the prescription drugs that you need
Part D is the newest part of Medicare coverage, but it has quickly become an essential part of the program for seniors seeking to control their healthcare expenses. By finding out what a Part D plan will cover and how much it will cost, you'll be in a better position to choose the right plan to meet your specific medical needs.
Summary
This analysis presents findings on Medicare Part D enrollment, premiums, and cost sharing in 2018 and key trends over time, based on data from the Centers for Medicare & Medicaid Services (CMS).
Findings
More than 43 million Medicare beneficiaries, or 72 percent of all Medicare beneficiaries nationwide, are enrolled in Part D plans.
Methodology
This analysis focuses on the Medicare Part D marketplace in 2018 and trends over time. Data on Part D plan availability, enrollment, and premiums were collected primarily from a set of data files released by the CMS on a regular basis:
How much is the Part B premium in 2018?
The 30 percent of all Part B enrollees who are not subject to the “hold harmless” provision will pay the full premium of $134 per month in 2018. Part B enrollees who were held harmless in 2016 ...
What is the Medicare Part B premium?
Medicare Part B Premiums/Deductibles. Medicare Part B covers physician services, outpatient hospital services, certain home health services, durable medical equipment, and other items. The standard monthly premium for Medicare Part B enrollees will be $134 for 2018, the same amount as in 2017.
What is Medicare Part A?
Medicare Part A Premiums/Deductibles. Medicare Part A covers inpatient hospital, skilled nursing facility, and some home health care services. About 99 percent of Medicare beneficiaries do not have a Part A premium since they have at least 40 quarters of Medicare-covered employment. The Medicare Part A annual inpatient hospital deductible ...
What is the deductible for Medicare Part B?
The annual deductible for all Medicare Part B beneficiaries will be $183 in 2018, the same annual deductible in 2017. Premiums and deductibles for Medicare Advantage and Medicare Prescription Drug plans are already finalized and are unaffected by this announcement. Since 2007, beneficiaries with higher incomes have paid higher Medicare Part B ...
How much is Medicare Part A deductible?
The Medicare Part A annual inpatient hospital deductible that beneficiaries pay when admitted to the hospital will be $1,340 per benefit period in 2018, an increase of $24 from $1,316 in 2017. The Part A deductible covers beneficiaries’ share of costs for the first 60 days of Medicare-covered inpatient hospital care in a benefit period.
When did Medicare Part A and B premiums come out?
2018 Medicare Parts A & B Premiums and Deductibles. On November 17, 2017 , the Centers for Medicare & Medicaid Services (CMS) released the 2018 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs.
How much will Social Security increase in 2018?
After several years of no or very small increases, Social Security benefits will increase by 2.0 percent in 2018 due to the Cost of Living adjustment.
2018 Medicare Advantage Premium & Deductible Averages By State
Florida was the low-cost leader when comparing average Medicare Advantage premiums among the states. Florida’s 2018 Medicare Advantage plans have an average monthly premium of $17.06. North Dakota, in contrast, is over six times that amount with an average premium of $116.25 for its Medicare Advantage plans.
2018 Medicare Part D Plans By State
When comparing state averages for monthly premiums among stand-alone Medicare Part D drug plans, Delaware, Maryland, and the Washington D.C. region tied for the lowest in 2018. The average Medicare Part D premium in these three regions was $40.98. This average was 22 percent lower than the national average of $52.36.
Conclusion
As Medicare beneficiaries prepare to shop this Open Enrollment Period for new insurance plans, they should remember that other plan attributes can be just as important as premiums and deductibles. For example, healthcare provider networks and caps on annual out-of-pocket costs are especially important to examine among Medicare Advantage plans.
Methodology
Premiums and deductibles for Medicare health and drug plans were obtained from the 2018 MA Landscape Source Files and 2018 PDP Landscape Source Files published by cms.gov on September 29, 2017 ( https://www.cms.gov/Medicare/Prescription-Drug-Coverage/PrescriptionDrugCovGenIn/index.html?redirect=/PrescriptionDrugCovGenIn/02_EnrollmentData.asp last accessed on October 2, 2017).
Author
This analysis was written by Kev Coleman, Head of Research & Data at HealthPocket with data collection performed by Michael Bass. Correspondence regarding this study can be directed to Mr. Coleman at [email protected].
How much Medicare Part D coverage is there in 2018?
will increase from $4,950 in 2017 to $5,000 in 2018. begins once you reach your Medicare Part D plan’s initial coverage limit ($3,750 in 2018) and ends when you spend a total of $5,000 out of pocket in 2018.
When will Medicare Part D enrollment start in 2022?
If you would like for us to send you an email as additional 2022 Medicare Part D plan information comes online and when enrollment begins (October 15th), please complete the form below. We will NOT share your information with any third-parties.
How much does Medicare pay for a donut hole?
Medicare Part D beneficiaries who reach the Donut Hole will also pay a maximum of 44% co-pay on generic drugs purchased while in the coverage gap (a 56% discount). For example: If you reach the 2018 Donut Hole, and your generic medication has a retail cost of $100, you will pay $44.
Does Medicare Part D have a variation?
However, CMS does allow Medicare Part D plans to offer a variation on the defined standard benefits (for example, a Medicare Part D plan can offer a $0 Initial Deductible). will be increased by $5 to $405 in 2018. will increase from $3,700 in 2017 to $3,750 in 2018. will increase from $4,950 in 2017 to $5,000 in 2018.
What is the Medicare Part B premium?
The standard monthly Medicare Part B premium is $135.50 in 2019. While most people pay only the standard premium, higher income earners will be charged a higher premium.
How much is Medicare premium for 2019?
If you paid Medicare taxes for only 30-39 quarters, your 2019 Part A premium will be $240 per month. If you paid Medicare taxes for fewer than 30 quarters, your premium will be $437 per month. The 2019 Part A premiums increased ...
What is Medicare Supplement Insurance?
Medicare Supplement Insurance (Medigap) provides coverage for some of the out-of-pocket costs that Medicare Part A and Part B don't cover. This can include costs such as Medicare deductibles, copayments, coinsurance and more. Medigap plans are sold by private insurance companies so there is no standard premium.
How much is Medicare Part C?
Plan premiums will vary by provider, plan and location. The Centers for Medicare and Medicaid Services (CMS) reports that the average Medicare Advantage plan premium in 2019 will be $28.00 per month.
What is Medicare Part A?
2019 Medicare Part A premium. Medicare Part A (hospital insurance) helps provide coverage for inpatient care costs at hospitals and other types of inpatient facilities.
What happens if you don't receive your Part B?
If you don’t receive any of these benefit payments, you will simply get a bill in the mail for your Part B premium. How it changed from 2018. The 2019 Part B premiums rose by close to 1.1 percent from 2018 across all income levels.
Is Medicare Part B optional?
Medicare Part B is optional. You will likely be automatically enrolled in Part B (with the option to drop it) if you are automatically enrolled in Medicare Part A.
