Key Takeaways
- More than 41 million Medicare beneficiaries receive their prescription drug coverage through the Medicare Part D program.
- Part D beneficiaries can choose from a range of coverage options. Beneficiaries’ long-standing satisfaction with the program demonstrates the continued success of this approach.
- Greater use of Part D plan management tools has proven effective at promoting the use of clinically appropriate, cost- effective medications and is critically important to maintain affordable coverage for beneficiaries. These practices are particularly important because of the increasing use of high-cost drugs, which threatens the continued affordability of the program for beneficiaries and taxpayers.
Summary
Medicare Part D, the prescription drug program for Medicare beneficiaries, covers most medications – including biologics and vaccines – that are not otherwise covered by the Medicare Part A hospital benefit or the Medicare Part B benefit for physician services and supplies. Over the past 10 years, Part D has improved access to prescription drugs and reduced out-of-pocket costs for millions of beneficiaries. Today, more than 41 million seniors and individuals with disabilities are covered by private plans participating in the program, and enrollees are overwhelmingly pleased with their coverage and benefits. In a recent survey, nearly 90 percent of seniors said they were satisfied with the Part D program.