Fact Based List:
Eight things to know from KFF study on 2020 Medicare PDPs
Submitted by gmccalister on Wed, 11/27/2019 - 10:19
- Average Medicare beneficiary will have a choice of 28 PDPs in 2020, a 29% increase from 2017
- A total of 948 PDPs will be offered in 2020, an increase of 202 PDPs since 2017
- Among 20 PDPs available nationwide, average monthly premiums will range from low of $13 for Humana Walmart Value Rx Plan to $83 for Express Scripts Medicare Choice
- 2/3 of Part D enrollees w/o low-income subsidies will have 2020 premium increases if stay in same plan, and 1/3 will have premium decreases.
- The estimated national average monthly PDP premium for 2020 is projected to increase by 7% to $42.05
- In 2020, all PDPs will have a benefit design with 5 or 6 tiers for covered generic, brand-name, and specialty drugs, and cost sharing other than standard 25% coinsurance
- 86% of PDPs will charge a deductible, with most PDPs charging the standard deductible of $435 in 2020
- Among all PDPs, median cost sharing is $0 for preferred generics and $3 for generics, but $42 for preferred brands and 38% coinsurance for non-preferred plus 25% for specialty
Source: Medicare Part D: A First Look at Prescription Drug Plans in 2020.
Source URL: https://www.kff.org/medicare/issue-brief/medicare-part-d-a-f...
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