Health Affairs June 14, 2023
As Medicare Advantage (MA) enrollment grows, the nature of prescription drug benefits will evolve with it, including in profound ways that are not fully recognized by policy makers. When Medicare’s prescription drug benefit, Part D, was first established in 2006, just 16.9 percent of Medicare beneficiaries were enrolled in a MA plan. That share has since grown to 50 percent with few signs of slowing.
This shift has brought a corresponding increase in the number of Medicare beneficiaries who get prescription drug coverage through an MA plan. Medicare fee-for-service enrollees have the option of obtaining drug coverage through a separate Prescription Drug Plan (PDP). While MA plans can, in principle, be offered without prescription drug coverage, roughly 90 percent of...
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