In conjunction with the Medicare open enrollment period, the Kaiser Family Foundation has issued two reports analyzing key market changes in Medicare Advantage and Medicare Part D prescription drug programs.
Although Illinois will see the highest premium increase in the nation – 9.4% – the average premium of $35.99 will still be lower than any surrounding state and lower than the U.S. average. Across the Midwest and Great Plains, only Ohio has a lower average premium of $34.94.
There will be five fewer prescription drug plans available in Illinois in 2015, as compared to 2014. The number of plans available in Illinois peaked in 2007 at 56. Still, the 33 plans available to Illinois residents in 2015 will be the most available in any state.
In the case of Medicare Advantage, the Kaiser study says the number of available plans is likely to shrink by 3%, but that will still leave 1,945 plans available in 2015. But, in Illinois the number of available plans will actually increase. In 2014, there were 66 plans available. Of that total, 15 are expected to leave the state, but another 17 will enter the Illinois market.