As a senior in New Jersey, are you aware that theÂ average monthly premium for standard beneficiaries in the Medicare Part D drug program is expected to rise by $3 next year? This is a recent report fromÂ the Centers for Medicare & Medicaid.
What this means to beneficiaries of the Medicare Part D drug program -Â a New Jersey senior and elderÂ will pay $28, CMS estimates. This increase for you on Medicare Part DÂ is due to general trends in drug costs, the phase-out of a CMS demonstration project, and higher plan estimates for catastrophic coverage based on prior experience, the agency said in a news release.
New Jersey’s low-income beneficiaries may find that their plan has a higher premium next year. If the beneficiary does not choose to stay in that plan, CMS will assign the beneficiary to a new plan sponsor, effective Jan. 1.