News alert CMS Releases 2024 Projected Medicare Part D Premium and Bid Information Jul 31, 2023 Medicare Part D The Centers for Medicare & Medicaid Services (CMS) today announced that the average total monthly premium for Medicare Part D coverage is projected to be approximately $55.50 in 2024. This expected amount is a decrease of 1.8% from $56.49 in 2023. Stable premiums for Medicare prescription drug coverage in 2024  are supported by improvements to the Part D program in the Inflation Reduction Act that allow people with Medicare to benefit from reduced costs. CMS is releasing the projected average total monthly Part D premium—calculated based on plan bids submitted to CMS—to help individuals understand overall Part D premium trends before Me...