Medicare Advantage Premiums Climb

The number of $0 premium Medicare Advantage plans will decrease 19% from 2014 to 2015, according to HealthPocket. The analysis is based on the federal government’s 2015 Medicare insurance data. The average Medicare Advantage premium will be $62.69 in 2015, which is 2% higher than in 2014. It is also 94% higher than the average of $32.26 that the government reported before changing how it calculates average premiums. The 2015 premium average is based on anticipated plan enrollment rather than average premiums of all Part D plan options. The report includes the following statistics:
• The average drug deductible for 2015 Medicare Advantage plans is $129.87, which is 94% higher than in 2014. The maximum allowable drug deductible is $320 in 2015.
• The average all Medicare Part D drug plan for 2015 is $53.90, which is 1% lower than in 2014. However, it is 68% higher than the average premium before the government changed how it calculates average premiums.
• The average deductible for 2015 Medicare Part D drug plans is $157.91, which is 1% higher than in 2014. The maximum allowable Medicare Part D deductible is $320 in 2015.
• The cap on out-of-pocket costs for covered drug expenses in Part D and Medicare Advantage plans is $4,700 in 2015. This limit is $150 higher than in 2014. After this out-of-pocket threshold is reached, the beneficiary gets catastrophic coverage with lower drug cost-sharing.
For more information, visit HealthPocket.com.

Last Updated 06/23/2021

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