Medicare Advantage Drug Plans Latest Enrollment Data
Medicare Advantage Drug Plans 2023 Enrollment Data: Enrollment in stand-alone Medicare prescription drug plans (PDPs) declined in 2022. This coverage, commonly referred to as Medicare Part D, is used to supplement Original Medicare (Parts A and B) as well as Medicare Supplement coverage.
A total of 23.3 million Americans were enrolled in stand-alone Medicare Part D plans in 2022 (47 percent of total Medicare plan enrollment). The number declined from 25.5 million (56 percent) in 2019, the peak for stand-alone plans.
At the same time enrollment in Medicare Advantage Prescription Drug plans (MAPDs) surpassed enrollment in PDPs for the first time in 2021. For 2022, the total number of individuals enrolled in MAPDs reached 26.5 million. This growth is associated with the overall increased enrollment in Medicare Advantage plans.
For 2023, Medicare Part D prescription drug programs will pay for outpatient prescription drug coverage on behalf of nearly 50 million Medicare beneficiaries in 2022. Private Part D plans are available broadly. Dozens of stand- alone prescription drug plans (PDPs) and Medicare Advantage−Prescription Drug plans (MA−PDs) are available in every region of the country.
In 2022, a total of 49.8 million individuals were enrolled in Part D plans. That represents about 77 percent of Medicare’s total enrollment. In addition, some 2 percent of Medicare beneficiaries obtained drug coverage through non-Medicare employer-sponsored plans. These plans receive Medicare’s retiree drug subsidy.
Medicare beneficiaries continue to have a broad choice of prescription drug plans. In 2023, plan sponsors offered 3,539 general MA-PDs. In addition, 1,254 MA-PDs are special need plans (SNPs). These are tailored to specific populations with special needs.
Find Best Medicare Advantage Drug Plans
Medicare Advantage drug plans are generally included as part of the overall plan. We suggest you use the Association’s free directory to connect with local a local Medicare agent. Ask them to help you find the best Medicare Advantage drug plans.
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