Earlier this year, we looked at what people said would happen with the passage and implementation of Medicare Part D and what has actually happened in the first 10 years of the program.
- Part D would cost too much, but Medicare Part D actually costs less than initially projected.
- Beneficiary premiums would be too high and increase too fast, but Part D premiums have remained stable and are about half of original projections.
- Competition would not work, but competition works to keep costs low and options available.
- Private insurers wouldn’t offer Part D coverage, but in 2016, there are ample plan options for beneficiaries.
- Part D would be too complicated and seniors would not sign up, but there are nearly 40 million Part D beneficiaries and they are satisfied with their coverage.
In its first 10 years, Medicare Part D has far exceeded expectations, providing seniors and individuals with disabilities access to affordable prescription drug coverage while keeping costs low for beneficiaries and taxpayers. Read more about Medicare Part D and why it’s a success story.
Learn more about critics’ claims and what actually happened here.
Nicole Longo Nicole is senior manager of public affairs at PhRMA focusing on Medicare, 340B, importation and more. She previously worked for a D.C.-based public affairs firm where she assisted a wide range of clients with communications efforts on everything from trade policy to agriculture policy to health care policy. Outside the office, Nicole can be found trying new restaurants (usually Italian), taking an occasional barre class and cheering on the Cincinnati Bengals.