01 Sep Medicare Patients’ Health Care Access Impacted by Changes in 2024 Plan Offerings
Source: AJMC
Influential shifts within 2024 Medicare Part D plans are shifting access and affordability for Medicare beneficiaries, according to a new analysis from Avalere. Notably, the report revealed decreases in the amount of low-income subsidy (LIS) benchmark plans and standalone prescription drug plans (PDPs) since 2023, coinciding with increases in Part D premiums for PDPs. Patients enrolled across either plan may need to anticipate consequences that affect the coverage, access, and affordability of prescription drugs.1
The analysis, conducted by Avalere and sponsored by PAN Foundation, compared the observable changes between PDP formularies from 2023 to 2024, including coverage that remained available both years, the 2023 formularies no longer on the market, and the 2024 formularies for the plans that have remained available. Additionally, Avalere evaluated differences between the 2023-2024 LIS PDP formularies that held benchmark status by comparing the 2024 LIS PDP formularies that lost their benchmark status from the previous year with those that kept their status in 2024. In addition, 24 of the most used, single-source brand drugs were assessed throughout 5 medicinal areas: pulmonary hypertension (PH), multiple sclerosis (MS), autoimmune disorders, asthma or chronic obstructive pulmonary disease (COPD), and anticoagulants.
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