Part D & Medicare Advantage Newsby Denise Early on Sep. 27, 2013, under Health
Here are some bits and pieces of news related to Part D and Medicare Advantage:
CMS (Centers for Medicare and Medicaid Services) announced that the average estimated basic Medicare prescription drug premium plan in 2014 is projected to be $31 per month, holding steady for four years in a row.
More than 6.6 million people with Medicare have saved over $7 billion on prescription drugs as a result of the Affordable Care Act, an average of $1,061 per beneficiary.
From 2010 to 2012, Medicare spending per beneficiary grew at 1.7 percent annually, substantially more slowly than the per capita rate of growth in the economy.
Sequestration has reduced payments to Medicare Advantage plans by 2%. In Arizona, Medicare Advantage plans are paid around $800 per month per person enrolled in a plan. That is down to $778 as a result of across-the-board cuts required by sequestration.
For-profit Medicare Advantage plans must pay a 2% tax as one element of funding for the Affordable Care Act.
Despite these financial challenges presented by sequestration cuts and the Affordable Care Act tax, Arizona will see new companies entering our Medicare Advantage market for 2014.