However, for the first time since 2006, the Centers for Medicare and Medicaid Services (CMS) did not release the projected Medicare Part D premium for 2025.
Instead, on July 29th, CMS introduced the Voluntary Part D Premium Stabilization Demonstration whereby stand-alone Medicare Part D PDPs (not MAPDs) were encouraged to voluntarily lower the plan’s 2025 premiums by August 5th with Medicare providing additional financial support against plan losses possibly incurred with the Inflation Reductions Act’s expanded drug plan benefits. CMS explained that:
"[2025 Medicare plan] premium information will be impacted by participation in the [Voluntary Part D Premium Stabilization Demonstration for stand-alone Medicare Part D plans]. Therefore, CMS must wait until [stand-alone Part D] plans inform CMS of their intent to participate in the demonstration by August 5, 2024. CMS will then work to calculate preliminary average premiums.
Once offerings are finalized, [CMS] will release final Part D premiums at the individual plan level in [late] September, consistent with past years, via the 2025 MA and Part landscape after Part D sponsors have completed all steps necessary to finalize their 2025 bids."
q1medicare.com
Wow! Didn't see this coming . . . NOT!
Instead, on July 29th, CMS introduced the Voluntary Part D Premium Stabilization Demonstration whereby stand-alone Medicare Part D PDPs (not MAPDs) were encouraged to voluntarily lower the plan’s 2025 premiums by August 5th with Medicare providing additional financial support against plan losses possibly incurred with the Inflation Reductions Act’s expanded drug plan benefits. CMS explained that:
"[2025 Medicare plan] premium information will be impacted by participation in the [Voluntary Part D Premium Stabilization Demonstration for stand-alone Medicare Part D plans]. Therefore, CMS must wait until [stand-alone Part D] plans inform CMS of their intent to participate in the demonstration by August 5, 2024. CMS will then work to calculate preliminary average premiums.
Once offerings are finalized, [CMS] will release final Part D premiums at the individual plan level in [late] September, consistent with past years, via the 2025 MA and Part landscape after Part D sponsors have completed all steps necessary to finalize their 2025 bids."
CMS projects a 1.8% decrease in 2024 average total Medicare prescription drug plan premium.
Based on the 2024 Medicare Part D plan bids and June plan enrollment, the 2024 average total Part D premium is projected to be $55.50 per month, a decrease of 1.8 percent from the 2023 average total premium of $56.49.
Wow! Didn't see this coming . . . NOT!
