CMS projects that the average monthly premium for a basic Medicare Part D prescription drug plan will remain stable in 2016 at an estimated $32.50 per month. This projection is based on bids submitted by drug and health plans for basic drug coverage and calculated by the independent CMS Office of the Actuary.
Additionally, Medicare Part D enrollees will continue to savings on out-of-pocket costs as the Affordable Care Act closes the Part D so-called "donut hole" over time. Since the ACA was enacted, seniors and people with disabilities have saved an average of $1,598 per beneficiary on prescription drugs.
The Part D open enrollment period begins October 15 and ends December 7.
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