206k views
2 votes
Medicare Part D premiums averaged _____________ per month during 2016.

User Zequez
by
8.6k points

1 Answer

2 votes

Final answer:

The exact average monthly premium for Medicare Part D during 2016 is not given, but funding for Part D comes from beneficiary premiums and general revenues, with the projected cost of the benefit estimated at $121 billion for that year.

Step-by-step explanation:

The question asks about the average monthly premium for Medicare Part D in 2016. Medicare Part D is a prescription drug benefit program that is part of the broader Medicare system, which is a health insurance program mainly for individuals aged 65 and older, as well as some younger people with disabilities. While the exact average monthly premium for Medicare Part D in 2016 is not provided in the supplied reference texts, we do know that Medicare Part D premiums are financed through beneficiary premiums (about 25%) and general revenues (about 75%).

In 2016, the Medicare system projected that the prescription drug benefit's annual cost would rise to $121 billion. Considering that individuals enrolled in this part pay an annual premium and deductible for federal government to cover 75% of their prescription drug costs up to $2,250, we can infer that the costs were substantial, reflecting wider healthcare spending trends.

User Ben Blank
by
7.9k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.