This brief examines five years of trends in Part D plans and highlights beneficiaries’ need to compare available plans to ensure that they obtain the most appropriate coverage.

From the report:

Since 2006, Medicare beneficiaries have had access to prescription drug coverage offered by private plans, either stand-alone prescription drug plans (PDPs) or Medicare Advantage prescription drug plans (MA-PD plans). These Medicare drug plans (also referred to as Part D plans) receive payments from the government to provide Medicare-subsidized drug coverage to beneficiaries enrolled in a Part D plan. Part D plans are required to offer either a defined standard benefit or one that is equal in value; they may also offer an enhanced benefit. Medicare drug plans must meet defined requirements, but may vary in terms of premiums, benefit design, gap coverage, formularies, and utilization management rules. Today, more than 27 million Medicare beneficiaries are enrolled in Medicare drug plans, including 17.7 million in PDPs and 9.7 million in MA-PD plans.

Full Report: Medicare Prescription Drug Plans in 2010 and Key Changes Over Five Years: Summary of Findings (PDF | 629 KB)

Kaiser Family Foundation. (2010). Medicare prescription drug plans in 2010 and key changes over five years: summary of findings. Hoadley, J., Summer, L., Hargravei, E., Cubanski, J., Neuman, T.