CMS projects average monthly prescription drug charge to fall by nearly $1 The average monthly premium for Medicare Part D prescription drug coverage is expected to fall slightly in 2024, to $55.50, a 99-cent drop from the 2023 average of $56.49, the Centers for Medicare & Medicaid Services (CMS) announced on July 31.
The amount beneficiaries will pay in 2024 will vary depending on which prescription drugs they take, what plan they pick and where they live. In addition to premiums, deductibles and copays also vary by plan. CMS says more than 51 million Medicare beneficiaries currently have prescription drug coverage. More information about the Part D Premium decrease can be found at AARP.org Learn more about your Medicare options at MedicareOptionsForYou.com
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