WASHINGTON (AP) - It's an economic indicator of sorts for seniors: The Obama administration says the average premium for basic Medicare drug coverage will stay the same next year, $30 a month. That's the third year in a row of little or no change.
In addition, Medicare recipients with high prescription costs are saving an average of $629 apiece thanks to a provision of the new health care law that gradually eliminates a coverage gap called the "doughnut hole."
There is a caveat on premiums. Because the number is an average, some beneficiaries may see their monthly cost go up, while others get a decrease. Consumer advocates say seniors should check their plan during open enrollment season this fall and shop around if they're not satisfied.
Generic drugs are helping keep costs stable.
The Associated Press