Part D Drug Premiums Up Slightly in 2014; Medicare Projects Average Basic at $31 Monthly

Average basic premiums for the Medicare drug benefit in 2014 will remain at about the current level, an estimated $31 a month, the Centers for Medicare & Medicaid Services said July 30.

The 2014 projections were based on bids submitted by Part D and Medicare Advantage plans for basic drug coverage during the 2014 benefit year.

From 2011-2013, the average premium was projected to be $30.

Bids for 2014 were due June 3, and enrollment begins Oct. 15.

A CMS spokesman told BNA that, in addition to a competitive marketplace, the agency is “seeing low utilization rates, higher rebates, and ...