Insurers may be shifting toward cutting monthly premiums by increasing out-of-pocket costs in the Medicare Part D prescription drug plan market.
Analysts at Avalere Health looked at 2015 Part D plan data from the Centers for Medicare & Medicaid Services and found that the total number of Part D plans available will fall 14 percent, to 1,001.
Big players like Aetna, Cigna, CVS and UnitedHealth are reducing the number of prescription plans they offer, and focusing mainly on offering plans with average monthly premiums below $30, the analysts report.
In 2015, only two of the 10 plans with the highest enrollment will have an average monthly premium over $50.