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Pfizer Public Policy: Increasing Access for Seniors and People with Disabilities

Key Points

• Medicare Part D is successfully providing comprehensive and affordable drug coverage to Medicare beneficiaries. Although the program got off to a rocky start, it has and continues to improve each and every day.
• The program is supported by high levels of satisfaction among participants and its competitive model has resulted in extensive coverage options, broad choices of plans and lower costs to beneficiaries and taxpayers.
• Looking at several indicators of success, we believe that Part D is working very well. Enrollment has exceed expectations; competition among private-sector drug plans has resulted in a broad choice of benefits, strong access to needed medicines and significant cost savings for patients; and, the program is currently estimated to cost taxpayers less than originally estimated.

Medicare drug coverage has successfully provided comprehensive and affordable drug coverage to seniors and younger people with disabilities. In fact, as the Centers for Medicare and Medicaid Services (CMS) has reported, more than 39 million Americans ý or 90% of all eligible beneficiaries ý have drug coverage due to Medicare and recent public opinion surveys reinforce that 80% of people with Medicare Part D are satisfied with the program.

In Part D's second year, its competitive, free market model continues to build on the first-year successes by providing new choices with lower costs and even more comprehensive coverage.

• Monthly Medicare drug plan premiums keep decreasing and according to recently released CMS information are $22 per month, 40% lower than the $38 per month that was originally estimated;
• Choices of plans have expanded locally and nationally and feature more plans that cover the coverage gap;
• On average, plans are offering an average of nearly 4,400 medicines as compared to the 3,870 offered in 2006; and,
• The 10-year cost projection of the Medicare drug benefit has decreased by $387.2 billion or 32.3 percent.

Last Updated September 2007

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