CMS projects slightly lower Medicare Part D premiums in 2024

CMS is projecting Medicare Part D premiums to decrease by 1.8 percent in 2024, the agency said in a July 31 news release. 

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The average total monthly premium is expected to be $55.50 in 2024, down slightly from $56.49 in 2023. 

The agency will publish final 2024 premiums and cost-sharing rates for Part D and Medicare Advantage plans in September. 

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