However, growth in per-Medicare enrollee spending continues to be historically low, averaging 1.3 percent over the last five years. The recent 2015 Medicare Trustees report projected that the Medicare Trust Fund will remain solvent until 2030, thirteen years longer than they projected in 2009, prior to passage of the Affordable Care Act (ACA).

Seniors and people with disabilities are continuing to see savings on out of pocket drug costs as the ACA closes the Part D donut hole over time. Since the enactment of the ACA, more than 9.4 million seniors and people with disabilities have saved over $15 billion on prescription drugs, an average of $1,598 per beneficiary.

For the past five years – for plan years 2011-2015 – the average Medicare Part D monthly premium for a basic plan has been between $30 and $32. Today’s projection for the average premium for 2016 is based on bids submitted by drug and health plans for basic drug coverage for the 2016 benefit year and calculated by the independent CMS Office of the Actuary.

The upcoming annual open enrollment period – which begins October 15 and ends December 7 – allows people with Medicare to choose health and drug plans next year by comparing their current coverage and plan quality ratings to other plan offerings….

What a pain.  What a hassle.  I love choices, but I hate having to compare medical insurance benefits.  Makes my brain hurt.  But, if I want to save money, I’m going to have to make my brain hurt.

I was just thinking about how close fall is now that we’re in the month of August… looking at some photos of winter this morning (featured photo taken 3/1/2015). There’s beautiful light in the winter time.  (Plus Halloween and Easter candy!)  I can’ wait.  But I wasn’t thinking about what that time of year means for medical insurance renewals…

However, summer isn’t over yet. 🙂

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(Photo taken 7/22/2015.)

7 thoughts on “Medicare prescription drug premiums projected to remain stable

  1. Wonder what will happen in 2016? My Doc says that’s when the manure gets mangled. My personal experience is the meds are less expensive. My doctors costs are higher and I continue to lose the ability to see folks I’ve had as specialists for years.

    Liked by 1 person

  2. Medicare prescription plans are frigin crazy….my husband uses an inhaler, normal with prescription plan is 45.00 in the donut hole its 22.00 makes no sense..we are defiantly not saving on money with the Medicare plan and my brain hurts every year as we compare all the prices….its always a stressful time for us,,,however we are on the cheapest plan so they say…

    Liked by 1 person

    • “…defiantly not saving…”

      Oh, I know you meant “definitely.” But I had to smile when I thought of making a decision to stop saving — in other words, spend — defiantly. It sounds like… a vacation.

      Spending defiantly does sound like fun. I defiantly spent $20 at the grower’s market this past weekend for heirloom tomatoes that melt in your mouth, bell peppers, and peaches. Yes, I can definitely say I defiantly spent more money for delicious food and it was fun. It tastes like fun in my mouth. I shall have to repeat the experience. Again. 🙂

      Sorry, the taste of really fresh fruit and vegetables makes me a little giddy. 😀


  3. I have found that Medicare’s prescription plan does not cover many of my needed medications. At least I do save on the medications they do cover. I still can’t afford all of the medications that are not covered, and my medical costs overall since I have had to go on disability are almost equal to the money I get to live on each month. I will be looking for a better plan if there is one that is affordable, but I fear no matter what Medicare plan I chose, they will still deny the same medications. I hope and pray it will improve, I hope all of you have a better outcome then I most likely will get.

    Liked by 1 person

    • I’m lucky — I don’t take prescription drugs anymore, so I only need the most basic plan. One day, Medicare will cover medical cannabis and then maybe I’ll get some use out of this program again. 🙂

      Liked by 1 person

      • I wish it did cover cannabis and that it was legal in the state I live in. I have heard it is so helpful with people with several of my chronic illnesses, I would love to not need the medications I take. Cannabis has been known to relieve many of the symptoms and side effects of the medications that would still be necessary. I hope and pray soon it will be legal for medical marijuana to be dispensed and used in all of America along with covered under Medicare and other insurance plans for those not on Medicare.

        Thank you for the wonderful post and great discussion.

        Liked by 1 person

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