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7 of the top 10 Medicare drug plans raise premiums by 10% or more
NEWS IN BRIEF — Posted Oct. 8, 2012
Premiums for some of the most popular Medicare prescription drug plans will increase by at least 10% for 2013, according to an analysis by the consulting group Avalere Health.
Overall Part D premiums will increase by 6% to $40.27 in 2013 from $37.89 in 2012, but seven of the 10 Part D plans with the most enrollees will raise prices by double-digit percentages. Plans with the largest increases, however, still were below the national average for premiums, according to the analysis. They include Humana Walmart-Preferred Rx Plan, increasing 23% to $18.50 in 2013; FirstHealth Part D Premier, rising 18% to $38.54; and FirstHealth Part D Value Plus, up 17% to $29.75.
Avalere urged beneficiaries not to move to a new insurer based solely on the price change during the upcoming open enrollment period. “Seniors need to carefully assess their options going into this open season to ensure that they have a plan that meets their needs,” said Bonnie Washington, senior vice president of Avalere Health, based in Washington.
The top 10 Part D plans cover 14 million of the 17.4 million Part D beneficiaries. AARP Medicare Rx Preferred has the most enrollees, with 4 million. Its premiums will rise by 1% to $40.42 in 2013.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2012/10/08/gvbf1008.htm.
