Latest Medicare Prescription Drug Plan Statistics For Seniors
Drug plan data for 2022 finds that 48 million Medicare beneficiaries are enrolled in Medicare Part D plans. The average Medicare beneficiary has a choice of 54 Medicare plans with Part D coverage in 2022. Here are highlights of drug plan statistics for 2022:
- 48 million Medicare beneficiaries
- 766 stand-alone drug plans
- 54 choices
- $43 average monthly premium
- $480 standard deductible
- 40-to-50% co-insurance
See more details below.
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Drug Plan Data 2022 Highlights
The American Association for Medicare Supplement Insurance works to make it easy for consumers and others to easily find relevant information.
The following are highlights of recent data we have pulled from respected sources.
Access 2022 Medicare insurance statistics for Medicare Advantage and Medicare Supplement plans. Click the link.
Drug Plan Data 2022
48 million Medicare beneficiaries
n 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. (Source Kaiser Family Foundation website).
766 stand-alone drug plans
A total of 766 Medicare Part D stand-alone prescription drug plans will be offered in 2022. This represents a 23% decrease from the number of stand-alone PDP plans available in 2021.
- 2022 – 766 plans
- 2020 – 948 plans
- 2015 – 1,001 plans
- 2010 – 1,576 plans
54 choices
In 2022 the average Medicare beneficiary has a choice of 54 Medicare plans with Part D drug coverage. This includes 23 Medicare stand-alone drug plans and 31 Medicare Advantage drug plans.
Stand-alone drug plan choices are decreasing
In 2022 the number of available stand-alone PDP plan choices is 23. In 2021, the number was 30.
- 2020 – 28 plans
- 2015 – 29 plans
- 2010 – 47 plans
The average beneficiary has more choices when it comes to Medicare Advantage drug plans.
- 2022 – 31 plans
- 2020 – 24 plans
- 2015 – 15 plans
- 2010 – 21 plans
$43 average monthly premium
The average monthly premium for Medicare Part D stand-alone drug plans is projected to be $43 in 2022 by the Kaiser Family Foundation.
$480 standard deductible
The standard maximum plan deductible (that most Medicare Part D) plan participants will face is $480.
40-to-50% co-insurance
Most Medicare prescription drug plan enrollees will face much higher cost sharing for brands than for generic drugs. This includes co-insurance 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.
Drug Plan Data 2022 You Don’t See Here
Email Jesse Slome at the Association and let’s see if we can find the data for you. We’ll also add it to this webpage to help others. Email: jslome at medicaresupp dot org.