Medicare Monday: Medicare Part D by the numbers

Getting back into the swing of things as Fall approaches? Here’s some light Medicare reading! And if you need a refresher, you can go back to our ABC (and Ds) of Medicare post:

• More than 40 million:  Millions of Americans are enrolled in Medicare Part D today, helping them access the prescription medicines they need.

• More than 700 plans: Nationwide, Part D beneficiaries have more than 700 prescription drug plans to choose from in 2017. The vast number of plan options helps beneficiaries find one that works best for them.

• $33.50: In August, the Centers for Medicare & Medicaid Services (CMS) announced that the average monthly Part D premium in 2018 will be $33.50, about a dollar less than this year’s average.

• 3 years: One study has found that life expectancy for beneficiaries has increased by 3.3 years since the implementation of Part D. And another recent study found that mortality rates for the elderly have decreased every year since the Part D program was implemented in 2006. 

• 87 percent: The latest Medicare Trustees report found that the generic utilization rate among Part D beneficiaries increased again with 87 percent of all prescriptions dispensed being generic.

Want to learn more? Visit PhRMA.org/PartD.