In 2013, more than 35 million Medicare beneficiaries were enrolled in Medicare drug plans, according to a Kaiser Family Foundation report.
That figure includes including 22.5 million beneficiaries in prescription drug plans and 12.8 million in Medicare Advantage prescription drug plans. Since it began in 2006, Part D has evolved due to changes in the private insurance marketplace and program regulations, according to the report. Kaiser analysts identified the following Medicare prescription drug plan trends to watch.
1. Prescription drug plans have applied utilization management restrictions to an increasing share of on-formulary brand-name drugs. In 2013, 35 percent of these drugs were subject to some utilization management, compared with 18 percent in 2007.
2. The majority (69 percent) of prescription drug plans don't cover more than what is required by law for beneficiaries in the Part D coverage gap or "donut hole." The Patient Protection and Affordable Care Act contains provisions that aim to phase out the coverage gap by 2020.
3. The median cost sharing for a 30-day supply of non-preferred brand-name drugs in prescription drug plans was $85 in 2013, up 55 percent from $55 in 2006. Cost sharing for preferred brand drugs also increased by 43 percent to $40 during the same time period.
4. Since 2006, the average prescription drug plan premium weighted by enrollment has increased by 49 percent, reaching $38.54 in 2013. However, premium growth has slowed in recent years, and premiums increased on average by only 2 percent from 2012 to 2013.
5. Fewer prescription drug plans have been offered in 2013 than in any previous year. There were 1,031 plans in 2013, roughly 1 percent fewer than were offered in 2012 and one-third fewer than in 2010.
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