Part D Plan Availability The Average Medicare Beneficiary Has a Choice of More Than 50 Medicare Plans with Part D Drug Coverage in 2022 The decrease between 20 is due to plan consolidations by Cigna and Centene, which offered benchmark PDPs in 2021 that will not be offered in 2022. In 2022, 198 PDPs will be premium-free for enrollees receiving the Low-Income Subsidy (LIS) (benchmark plans), a smaller number than in any year since Part D started in 2006.Most PDP enrollees will face much higher cost sharing for brands than for generic drugs, including coinsurance for non-preferred drugs between 40% and 50% (the maximum coinsurance rate allowed for the non-preferred drug tier) in 12 of the 16 national PDPs.Most Part D PDP enrollees who remain in the same plan in 2022 will be in a plan with the standard (maximum) $480 deductible.Among the 16 national PDPs, average monthly premiums are increasing for 12 PDPs, including 5 PDPs with increases exceeding $10. The estimated average monthly premium for Medicare Part D stand-alone drug plans is projected to be $43 in 2022, based on current enrollment, while average monthly premiums for the 16 national PDPs are projected to range from $7 to $99 in 2022.A total of 766 Medicare Part D stand-alone prescription drug plans will be offered in 2022, a 23% decrease from 2021, primarily the result of consolidations of PDP offerings sponsored by Cigna and Centene resulting in three fewer PDPs from each firm in each region.The average Medicare beneficiary has a choice of 54 Medicare plans with Part D drug coverage in 2022, including 23 Medicare stand-alone drug plans and 31 Medicare advantage drug plans.(A separate overview of the 2022 Medicare Advantage market is also available.) Unless otherwise noted, weighted estimates are based on August enrollment (see Methods box for additional details).
This issue brief provides an overview of the Medicare Part D marketplace in 2022 and key trends over time, focusing primarily on stand-alone PDPs. In 2021, 48 million Medicare beneficiaries, or more than three-quarters (77%) of all Medicare beneficiaries, are enrolled in Medicare Part D plans, with half (50%) enrolled in stand-alone PDPs and the other half (50%) enrolled in Medicare Advantage drug plans. During the Medicare open enrollment period from October 15 to December 7 each year, beneficiaries can enroll in a plan that provides Part D prescription drug coverage, either a stand-alone prescription drug plan (PDP) as a supplement to traditional Medicare, or a Medicare Advantage prescription drug plan (MA-PD), which covers all Medicare benefits, including drugs.
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