Key Facts About Medicare Part D Enrollment and Costs in 2023

KFF’s brief, “Key Facts About Medicare Part D Enrollment and Costs in 2023”, analyzes enrollment and costs for the Medicare Part D benefit in 2023 and trends. Medicare Part D provides outpatient prescription drug coverage through a standalone Medicare Part D plan (PDP) to supplement Original or Traditional Medicare, or through a Medicare Advantage Prescription Drug plan (MA-PD) or other Medicare Health Plan with drug coverage. The analysis notes that in 2023 over half of those with Medicare Part D coverage are enrolled in a Medicare Advantage plan with a Part D benefit. Enrollment in the MA-PD plans continues to outpace enrollment in PDPs. MA-PD enrollment grew by 47% between 2019 and 2023 while PDP enrollment fell by 12%.