2021 Medicare Part D Plans Premiums, Deductibles and Costs

2021 Medicare Part D prescription drug plans have been released and the news, though not as great as the last 2 years, is yet again positive for seniors’ as overall costs should remain relatively flat from 2020.

Overall total costs for Part D Plans grew by roughly 1.20% from 2020 as the national average Part D Plans cost is $70.15 a month.

Breakdown of Part D Plans on a national level:

• Basic Part D Plans:
  • $39.81 monthly premium.
    • This is a 10.95% increase from 2020.
  • $427.44 annual Part D deductible.
    • This is a 1.88% increase from 2020.
  • $75.43 monthly cost for Basic Part D plans
    • This is a 6.47 increase from 2020.

• Enhanced Part D Plans that have a separate Part D Deductible:
  • $30.42 monthly premium.
    • This a 4.68% decrease from 2020.
  • $376.85 annual Part D deductible.
    • This is a 2.45% decrease from 2020.
  • $61.82 monthly cost for Enhanced Part D Plans with a separate Part D Deductible.

• Enhanced Part D Plans that include the Part D Deductible within the premium:
  • $83.99 monthly Premium.
    • This is a 2.48% decrease from 2020.

Overall weighted average Part D costs in 2021 is $70.16 a month on a national level which is just a slight increase of roughly 1.20% from 2020 costs.

Please note:

• These costs reflect the average costs on a national average for an average healthy person.
• Those who have are considered to be above average in terms of health may experience much less expensive monthly costs for Part D coverage.
• Conversely, those who are considered to be unhealthy may experience higher monthly costs for Part D coverage.
• Costs are subject to residency and widely vary.

For more information on which Part D Plan is best suited please Medicare’s Plan Finder by clicking here.