As was
true in past years, many 2019 stand-alone Medicare Part
D prescription drug plans will be increasing their monthly premiums in 2020. In fact, based on current Medicare plan enrollment, around
11.3 million Medicare beneficiaries will see their stand-alone 2019 Medicare Part D premiums increase in 2020.
More importantly, over
4 million Medicare beneficiaries currently enrolled in stand-alone 2019 Medicare Part D prescription drug plans (
PDPs) will see
at least a 20% increase in their monthly premium if they stay enrolled in their current plan into 2020 - with 1.5 million people currently enrolled in a 2019 Part D plan seeing their
premiums double in 2020.
2020 PDP Premium Increase/Decrease Summary |
Percentage Premium Increase |
Nbr of Members* |
Cumulative Nbr of Members*
|
100% or more |
1,507,798 |
1,507,798 |
50% to 99% |
646,078 |
2,153,876 |
20% to 49% |
1,874,317 |
4,028,193 |
10% to 19% |
2,017,914 |
6,046,107
|
1% to 9% |
5,302,254 |
11,348,361 |
no change |
316,345 |
|
-1% to -9% |
5,723,754 |
5,723,754 |
-10% to -19% |
2,368,116 |
8,091,87 |
-20% to -49% |
247,371 |
8,339,241 |
-50% to -73% |
50,486 |
8,389,727 |
*Note: These enrollment figures do not include members who will be
crosswalked to a new plan.
Some of the largest 2020 Medicare Part D plan premium increases are highlighted in the table below:
Highlights of the Larger stand-alone Medicare
Prescription Drug Plan
Premium Increases
|
2020 Plan Name |
2019
Premiums |
2020
Premiums |
Premium Increase |
Percent Increase |
States |
Members Affected |
Humana Premier Rx Plan (PDP) was the 2019 Humana Walmart Rx Plan (PDP) |
Ranging from
$22.20 to $45.60 |
Ranging from
$51.20 to $69.10 |
up to
$34.60 |
up to 145% |
all states
|
1,978,940 members will see at least a 36% premium increase. Members in NM will see a 145% premium increase |
EnvisionRxSecure (PDP) |
Ranging from $14.90 to $16.50 |
Ranging from $23.00 to $37.50 |
up to $21 |
up to 127% |
5 states |
652,381 members will see at least a 54% increase in premium |
WellCare Medicare Rx Select (PDP) was the 2019Aetna Medicare Rx Select (PDP)
|
Ranging from $12.20 to $19.20 |
Ranging from $13.10 to $35.70 |
up to $18.60 |
up to
108% |
all states
|
441,526 members will see at least a 25% increase in premium. Only VA IL will see a premium reduction. |
SilverScript Plus (PDP)
|
Ranging from $44.10 to $85.20 |
Ranging from $56.70 to $101.40 |
up to $35.40 |
up to 80% |
all states |
160,719 members will see at least a 24% increase
|
However, there is good news for some plan members: 2020 Premium Decreases
Approximately 8.4 million Medicare beneficiaries will see a decrease in
their 2020 Medicare Part D plan premium. The largest decrease is the
Texas EnvisionRxPlus plan where the premium will fall from $52.10 in 2019 to $14.20 in 2020.
Where can you see how your 2019 Medicare plan is changing in 2020?
You can use our
PDP-Compare
and
MA-Compare
tools to learn more about how 2019 Medicare Part D and Medicare
Advantage plans are changing in 2020. Our PDP-Compare and MA-Compare
show changes in all 2019/2020 stand-alone Medicare Part D prescription
drug plans
(PDPs) and Medicare Advantage plans (MAs or MAPDs) across the country
and include changes in
plan features such as premium, deductible, cost-sharing and formulary
size changes.
Our Medicare plan compare tools also highlight 2019 plans that will be
merged or
discontinued in 2020 and new plans that will be
added in 2020.
Reminder about looking beyond your plan's low premium
If you are using several brand-name
medications or an
expensive specialty medication,
your monthly Medicare plan premiums may not be a significant
part of your annual medication costs. Be sure to consider the entire
cost of your drug coverage when choosing a Medicare plan: premiums,
co-payments, co-insurance, additional Donut Hole coverage, and
catastrophic coverage.
Not sure whether your 2019 Medicare plan is still the most economical 2020 plan option?
Medicare beneficiaries can telephone Medicare at 1-800-633-4227, speak
with a Medicare representative, and learn more about Medicare plan
coverage and their 2020 Medicare Part D and Medicare Advantage plan
options.