Competition Keeps Cost Down and Improves Access to Part D
Competition Keeps Cost Down and Improves Access to Part D
Competition has incentivized plans to maintain premiums low for beneficiaries through a development of new ways to manage spending on prescriptions such as direct negotiation with manufacturers. Through direct negotiations with pharmaceutical companies, Medicare Trustees have secure rebates that go up to 20 or 30 percent. Competition has played a critical role in part D success and has kept premiums low and attracted more enrollees.
