Report: Premium hikes for top Medicare drug plans
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Sep 25, 3:15 AM (ET)
By RICARDO ALONSO-ZALDIVAR
WASHINGTON (AP) - Seniors enrolled in seven of the 10 most popular
Medicare prescription drug plans will be hit with double-digit premium
hikes next year if they don't shop for a better deal, says a private
firm that analyzes the highly competitive market.
The report Monday by Avalere Health is a reality check on the Obama's
administration's upbeat pronouncements. Back in August, officials had
announced that the average premium for basic prescription drug coverage
will stay the same in 2013, at $30 a month.
The administration's number is accurate as an overall indicator for the
entire market, but not very helpful to consumers individually since it
doesn't reflect price swings in the real world.
"The average senior is going to benefit by carefully scrutinizing their
situation, because every year the market changes," Avalere President Dan
Mendelson said. Avalere crunched the numbers based on bid documents
that the plans submitted to Medicare.
The report found premium increases for all top 10 prescription drug
plans, known as PDPs. However, the most popular plan - AARP MedicareRx
Preferred - is only going up 57 cents per month nationally, to $40.42
from the current $39.85.
The seven plans with double-digit premium increases were: the Humana (HUM)
Walmart-Preferred Rx Plan (23 percent); First Health Part D Premier (18
percent); First Health Part D Value Plus (17 percent); Cigna Medicare
Rx Plan One (15 percent); Express Scripts (ESRX) Medicare-Value (13 percent); the HealthSpring Prescription Drug Plan (12 percent); and Humana Enhanced (11 percent).
Another two plans in the top 10 also had single-digit increases. They
were the SilverScript Basic (8 percent) and WellCare Classic (3
percent).
Read more : http://apnews.myway.com/article/20120925/DA1GLK6G0.html
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