BALTIMORE — The Centers for Medicare & Medicaid Services reported the projected cost of providing Medicare Part D has come down, according to fiscal year 2009 budget documents that will be released next week. The overall projected cost of the drug benefit is $117 billion lower over the next 10 years than was estimated last summer due to the slowing of drug cost trends, lower estimates of plan spending and higher rebates from drug manufacturers. Following the third open enrollment season for the prescription drug program, there are 1.5 million more enrollees in Part D, bringing the total number of beneficiaries enrolled in Part D to 25.4 million. The total number of Medicare beneficiaries with drug coverage is now about 39.5 million. In addition, recent independent surveys indicate that beneficiaries’ satisfaction with the Part D benefit is at more than 85%. “As we enter the third year, Medicare’s prescription drug benefit is proving a resounding success,” said U.S. Health and Human Services Secretary Mike Leavitt. “Enrollment continues to rise, customer satisfaction remains very high, and costs for beneficiaries and taxpayers are considerably lower than original projections.”

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