Retired Americans enrolled in Medicare’s Part D prescription coverage could see their premiums increase by 42-57 percent in 2024, a new analysis by HealthView Services has found.
Major Discrepancy in Premium Outlooks
The HealthView report, published in November 2023, contrasts sharply with a July projection by the Centers for Medicare & Medicaid Services, the federal agency that administers the Medicare program,
The CMS said there would be a 1.8 percent decline in Part D premiums for 2024, citing the Inflation Reduction Act’s reforms as the basis for stable or reduced costs.
However, HealthView tells a different story. It forecasts major hikes for retirees in states with large senior populations.
Projected 2024 premiums are $1,404 in California, $1,246 in Florida, $1,154 in Texas, $1,469 in New York, and $1,189 in Pennsylvania. This represents average increases ranging from $269 in Texas to $510 in New York.
