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Part D Premiums Are Decreasing for Many Stand-Alone Drug Plans

CMS has just released information about Medicare Part D plans for 2026, including plan availability and premiums for the coming year. As this year’s Medicare open enrollment period approaches, there’s some good news for Medicare Part D enrollees when it comes to monthly PDP premiums – lower on average, according to CMS – even as the total number of PDPs available drops yet again. The headline of CMS’s press release emphasized stability in the Part D marketplace, but a quick review of the data shows that the total number of stand-alone drug plans available in 2026 will fall for the third year in a row, as plan sponsors scale back their PDP offerings (for… Read More

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CMS announces lower Medicare Part D premium for 2024 

According to an official statement by the Centers for Medicare and Medicaid Services (CMS) on Monday, the projected average total premium for Part D beneficiaries is anticipated to decrease by 1.8% in 2024. This reduction would bring the average monthly premium down to $55.50 from the 2023 figure of $56.49. The computed average monthly premium for Medicare Part D coverage in 2024, at $55.50, encompasses the combined average basic premium and the supplementary premium for plans featuring enhanced coverage. CMS emphasizes that this projection offers the most precise estimate of individuals’ 2024 Part D premium expenses. In addition to this update, CMS has disclosed several other important figures for the… Read More

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