Medicare Prescription Premiums Stay at $30 a Month

Medicare prescription premiums will stay the same which is about $30 a month. This is good news for the over 46 million people enrolled in Medicare. Some seniors will see an increase in Medicare prescription premiums, but some may see a drop, especially if they shop around during open enrollment this fall. Why would Uncle Sam do this? According to the AP report, “It estimated that the drug benefit saved Medicare an average of $1,200 a year for each senior who had no coverage or inadequate benefits before the program was launched in 2006. Most of that came from reduced hospital and nursing home costs, as prescriptions helped to keep people healthier.” Giving seniors access to drugs could potentially mean a savings of $12 billion dollar per year.

Many people covered by medicare do not have Part D, but about 50 percent do. Part D is the Medicare drug benefit option. As explained on the Medicare site, “Most Medicare drug plans have a coverage gap (also called the “doughnut hole”). This means there’s a temporary limit on what the drug plan will cover for drugs.” The doughnut hole means sometimes Medicare recipients find out the hard way that for whatever reason their prescriptions are not covered. The very concept of the “doughnut hole” is very confusing and hard to navigate.  suggests seniors talk to their doctors about switching to generic alternatives, try mail-order pharmacies, or find other “pharmaceutical” assistance programs, or explore “charitable programs.”

But how is the government able to keep the costs so low? “According to officials, Medicare”s popular drug benefits program is benefiting from competition between private insurance plans and the growing use of cheaper generic medicines.”

What was the trick to being one of the oldest centenarians on the planet? According to reports Breuning prided himself in eating only two meals a day, he took no medications except for aspirin and most importantly he stayed busy.

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