KFF November 8, 2023
During the Medicare open enrollment period from October 15 to December 7 each year, people with Medicare can enroll in a plan that provides Part D prescription drug coverage, either a stand-alone prescription drug plan (PDP) for people in traditional Medicare, or a Medicare Advantage plan that covers all Medicare benefits, including prescription drugs (MA-PD). In 2023, 50.5 million of the 66 million people covered by Medicare are enrolled in Part D plans, with more than half (56%) enrolled in MA-PDs and 44% in PDPs. This issue brief provides an overview of Part D plan availability and premiums in 2024 and key trends over time. (An overview of the 2024 Medicare Advantage market is also available.) (See Methods box for...
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