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October 14, 2014 at 11:30 AM
The U.S. Department of Health and Health Services (HHS) has bragged about stability in Medicare Part D prescription drug plan prices — but the number of drugs the average plan covers is falling.
Kev Coleman, an analyst at HealthPocket, has quantified the drop in an analysis of data from the Centers for Medicare & Medicaid Services (CMS), the arm of HHS that runs the Medicare Part D plan program and the Medicare Advantage health plan program.
The 2015 private Medicare plan open enrollment period starts Wednesday.
The Medicare Advantage program the Medicare Part D program give private insurers a chance to sell coverage to people who qualify for Medicare. The performance of the programs is of interest to players in the commercial health insurance market because Congress based many of the commercial major medical insurance provisions in the Patient Protection and Affordable Care Act (PPACA) on Medicare plan market provisions.
