Medicare Part D is an incredibly important and successful program that provides seniors and persons with disabilities with access to affordable prescription drug coverage. While recent surveys indicating about 90 percent of beneficiaries are satisfied with their Part D coverage, you may not know about all the ways Medicare provides value to beneficiaries. That’s why we’re launching #MedicareMonday to highlight various aspects of the program.
To kick off, here are some basic facts about how Medicare Part D helps patients by providing access and choice:
- By increasing access to needed medicines, beneficiaries are more likely to adhere to their prescriptions, which reduces spending on other health care services. For example, Part D coverage was linked to an eight percent decrease in hospital admissions for seniors and approximately $1.5 billion in hospital cost savings, according to a 2014 National Bureau of Economic Research study.
- Relatively stable average monthly premiums of just $32 in 2015 – up just $1 from 2014 – help to keep coverage affordable for beneficiaries.
- In 2015, there are more than 1,000 prescription drug plans available nationwide. In every region, Part D beneficiaries can choose from at least 24 plans.
As we share more about the benefits of Medicare Part D, we also want to hear from you. Post your thoughts to the comments section below or use the #MedicareMonday hashtag. Also be sure to check The Catalyst every Monday in the coming months for patient stories that highlight the benefits of Part D and information on specific diseases.
We look forward to having this important conversation with you!
Read other Medicare Monday posts.
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Allyson Funk Ally is a former senior director of public affairs at PhRMA focused on advocacy issues for the biopharmaceutical industry. Her expertise includes Medicare, Medicaid, 340B, health reform and more. Prior to PhRMA, her experience includes leading health communications for a large membership organization, supporting public affairs clients and working for the governor of Louisiana.