Medicare Advantage saved Medicare

[rmhaire]

Do they have any figures when adding part D for those on OM?

Pretty good comparison between PDPs and MAPDs below.

But in a nutshell, a PDP's average monthly premium in 2023 was $40. Considerably less than the $321 we're discussing.

Key Facts About Medicare Part D Enrollment and Costs in 2023 | KFF

The Medicare Part D program provides an outpatient prescription drug benefit to older adults and people with long-term disabilities in Medicare who enroll in private plans. This brief analyzes Medicare Part D enrollment and costs in 2023 and trends over time. The analysis highlights the...

www.kff.org

 

[Chazm]

Pretty good comparison between PDPs and MAPDs below.

But in a nutshell, a PDP's average monthly premium in 2023 was $40. Considerably less than the $321 we're discussing.

Key Facts About Medicare Part D Enrollment and Costs in 2023 | KFF

The Medicare Part D program provides an outpatient prescription drug benefit to older adults and people with long-term disabilities in Medicare who enroll in private plans. This brief analyzes Medicare Part D enrollment and costs in 2023 and trends over time. The analysis highlights the...

www.kff.org

I mean what are the govt subsidies to PDP plans. Insurance companies aren’t just collecting $40 monthly premiums.

 

[rmhaire]

I mean what are the govt subsidies to PDP plans. Insurance companies aren’t just collecting $40 monthly premiums.

Probably be the difference between $40 monthly average and the actual PDP premium the client pays.

Don't know of any companies that are giving away money. Even the free Uber rides. Somebody is paying.

 

[Chazm]

Probably be the difference between $40 monthly average and the actual PDP premium the client pays.

Don't know of any companies that are giving away money. Even the free Uber rides. Somebody is paying.

If I had to guess, insurance companies prob get $150 subsidy each month from the govt to offer their part D drug plan.

 

[rmhaire]

If I had to guess, insurance companies prob get $150 subsidy each month from the govt to offer their part D drug plan.

Don't recall seeing an actual number but I wouldn't be surprised.

 

[Bevo]

Medicare Advantage saved medicare

Ah...saved it, ruined it...whatever...doesn't matter.

Just sell as many policies as possible to as many people as possible while doing the right thing, then try to retain as many people as possible.

Make all the money you can, while you can.

 

[rmhaire]

If I had to guess, insurance companies prob get $150 subsidy each month from the govt to offer their part D drug plan.

Here's a totally different figure.

For 2024, Medicare’s actuaries estimate that Part D plans will receive direct subsidy payments averaging $383 per enrollee overall, $2,588 for enrollees receiving the LIS, and $1,153 in reinsurance payments for very high-cost enrollees; employers are expected to receive, on average, $591 for retirees in employer-subsidy plans.

An Overview of the Medicare Part D Prescription Drug Benefit | KFF

This fact sheet includes the latest information and data about the Medicare Part D prescription drug benefit, including current plan information, the standard benefit parameters, low-income assistance, the latest available enrollment data, and Part D program spending and financing. It also...

www.kff.org

 

[sman]

If I had to guess, insurance companies prob get $150 subsidy each month from the govt to offer their part D drug plan.

It's been many years ago, but I recall hearing $110 per month at a carrier meeting. This was probably somewhere between 2006-2008. My guess is it is definitely higher than that now. Likely the $150 amount you mentioned, or more.