weather unavailableweather unavailable
Make us your home page
Instagram

Medicare prescription drug premiums will rise next year, but so will benefits

WASHINGTON — Seniors will see a modest increase in their Medicare prescription premiums next year but benefits will also improve, federal health officials said Wednesday.

The average monthly premium charged by Medicare drug plans for standard coverage will rise to an estimated $30 in 2011, an increase of $1 over 2010, or about 3 percent, said Medicare administrator Don Berwick.

But since Medicare drug plans vary widely in coverage and costs, consumer advocates said seniors need to check their particular plan to avoid unpleasant surprises that may not be revealed in a such a broad estimate of average premiums.

That said, seniors with high drug costs can look forward to a big improvement next year.

That's because the new health care law will begin to close the coverage gap known as the doughnut hole. Medicare recipients in the gap will get a 50 percent discount on brand name drugs and 7 percent off on generics. The discounts will gradually increase until the gap finally closes in 2020.

Medicare prescription drug premiums will rise next year, but so will benefits 08/18/10 [Last modified: Wednesday, August 18, 2010 10:51pm]
Photo reprints | Article reprints

Copyright: For copyright information, please check with the distributor of this item, Associated Press.
    

Join the discussion: Click to view comments, add yours

Loading...