Medicare Part D successfully provides prescription drug coverage for more than 42 million older and disabled Americans. Through market-driven competition and a range of coverage options, Part D gives beneficiaries more choices and increased access to the medicines they need to live longer, healthier lives.
Potential changes to the policy continue to threaten the quality of the treatments available under the program. Doing whatever we can to ensure that Part D remains unchanged will keep America's seniors covered.
10 Years, 10 Reasons Part D Works
Medicare Part D, the acclaimed prescription drug benefit program, turns 10 next month. Reflecting over the past decade makes me realize just how much Medicare Part D has improved the lives of millions of Americans since 2003. As its 10th birthday approaches, we’re looking back aspects of the program that deserve celebrating:
- Creates Competition – Medicare Part D proves that a competitive marketplace can deliver value and savings to both patients and taxpayers.
- Help Since Implementation – Part D has helped people since the get go! When it was implemented in 2006, nearly 11 million seniors gained prescription drug coverage.
- Reliability – Average monthly premiums have remained low. The projected average of $31 in 2014 amounts to roughly less than half the $61 forecasted previously.
- Current Impact – Part D makes a big impact. Currently more than 45 million seniors and persons with disabilities receive this prescription coverage.
- Satisfaction – Participants like the program! In fact, an impressive 90% of seniors with Medicare prescription drug coverage feel satisfied with the plan.
- Every Day Effect – Part D meets a serious need. 92% of seniors with Part D coverage take prescription drugs every day.
- Government Savings – Part D cuts costs. According to the Congressional Budget Office, the Part D program will save Medicare $217.8 billion from 2006-2014.
- Personalization – It’s not a one-size-fits-all program; Part D recipients can choose the plan that best meets their needs.
- Collaboration – Part D represents collaboration! The U.S. biopharmaceutical industry helps the government fulfill this obligation by offering substantial discounts to support patient access to the medicines.
- Lasting Value – Part D, which costs less than projected and delivers real value, needs protection!
For these reasons and more, Medicare Part D has been an unprecedented source of coverage and choice for older Americans. Be sure to visit LillyPad next month as we continue to mark the 10-year anniversary of the Part D plan!