CMS expects average Part D premium to decline in 2020

The Centers for Medicare & Medicaid Services yesterday projected that the average basic premium for a Medicare Part D prescription drug plan will decline from $32.50 in 2019 to $30 in 2020. The projection is based on bids submitted by drug and health plans for basic drug coverage for the 2020 benefit year. CMS anticipates releasing premiums and costs for specific Medicare health and drug plans in mid-to-late September. Open enrollment for 2020 Medicare health and drug plans begins Oct. 15. CMS said it is redesigning the Medicare Plan Finder website so beneficiaries can more easily compare options and choose a plan. According to a report released yesterday by the Government Accountability Office, beneficiaries find the current website difficult to use and understand.