Medicare Monday: What actually happened with Medicare Part D

Earlier this year, we looked at what people said would happen with the passage and implementation of Medicare Part D and what has actually happened in the first 10 years of the program.

Critics claimed:

• Part D would cost too much, but Medicare Part D actually costs less than initially projected.

• Beneficiary premiums would be too high and increase too fast, but Part D premiums have remained stable and are about half of original projections.

• Competition would not work, but competition works to keep costs low and options available.

• Private insurers wouldn’t offer Part D coverage, but in 2016, there are ample plan options for beneficiaries.

• Part D would be too complicated and seniors would not sign up, but there are nearly 40 million Part D beneficiaries and they are satisfied with their coverage.

In its first 10 years, Medicare Part D has far exceeded expectations, providing seniors and individuals with disabilities access to affordable prescription drug coverage while keeping costs low for beneficiaries and taxpayers. Read more about Medicare Part D and why it’s a success story.

Learn more about critics’ claims and what actually happened here.