Since 2006, Medicare Part D has transformed the way Americans receive the medications they need to stay healthy. Already in its 10th year, Part D is one of the most efficient and widely used features of the Medicare program. In fact, 72% of all Medicare enrollees subscribe to a Part D plan today.
Why is Part D so successful?
Access to medicines
Medicine is only effective if it quickly reaches the people who need it. Comprehensive health care requires easy pathways to key prescriptions, along with highly trained doctors and cutting-edge practices. Medicare Part D subsidizes the costs of prescriptions and insurance premiums that senior and disabled Americans need, regardless of their circumstance or financial standing.
Reliably low costs
Part D enrollees rely on the program’s dependable pricing structure. In 2016, the average Medicare Part D premium
is expected to stay near $32.50 per month. In the past five
years, premiums increased a total of just three
Cuts government spending
In a time when every dollar counts, Part D directly reduces federal spending on Medicare overall. The Congressional Budget Office announced this year that it will lower its 50-year spending projections for Medicare, and noted that Part D played a critical role in that reduction. Part D deserves much of the credit because it provides prescriptions that keep out-of-pocket expenses, such as emergency room visits and other inpatient procedures, to a minimum.
These are just some of the ways Medicare’s prescription drug benefit improves America’s public health care system and its beneficiaries’ lives. If you’d like to sign up for Medicare, the Open Enrollment Period begins October 15th, and you can start the process here.