National Grange pleased with the continuation of Medicare prescription premiums

Aug. 8, 2012 - PRLog -- National Grange pleased with the continuation of Medicare prescription premiums


WASHINGTON, D.C. – On Monday, Aug. 6, U.S. Secretary of Health and Human Services Kathleen Sebelius announced that premiums for Medicare prescription drug plans are to remain at their current levels for 2013. The average premiums for 2012 were expected to total about $30 and have averaged $29.67.

“Premiums are holding steady and, thanks to the health care law, millions of people with Medicare are saving an average of over $600 each year on their prescription drugs,” Sebelius said in a press release.

This news speaks to the success of Medicare Part D, National Grange President Ed Luttrell said.

“Through its competitive bidding approach, Medicare Part D has managed to keep senior citizens and taxpayers content with their prescription coverage in recent years,” Luttrell said.

The estimate comes from the Centers for Medicare and Medicaid Services (CMS) Office of the Actuary and is based on bids submitted by basic coverage drug and health plans during the 2013 benefit year.

Medicare recipients will have the opportunity to pick their plans for 2013 during the upcoming enrollment period, beginning Oct. 15 and ending Dec. 7.

During the first half of 2012 alone, it is estimated that over one million Medicare recipients saved a total of $687 million on their prescription drugs, averaging about $629 per person. Out-of-pocket savings on prescription drugs for people with Medicare are expected to continue growing.