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Double-digit hikes for some Medicare drug plans

Posted on May 17, 2013

WASHINGTON – Millions of seniors face double-digit hikes in their Medicare prescription premiums next year unless they shop for cheaper coverage. A new analysis of government data finds that premiums will go up an average of 10 percent among the top plans that have signed up some 70 percent of seniors. That’s according to Avalere Health, a private research firm that crunched the numbers. Marketing for next year’s drug plans gets under way Oct. 1, and seniors will see some of the biggest changes since the Medicare prescription benefit became... Read More

Seven things to know about Social Security

Posted on May 17, 2013

Social Security turned 75 last month, and many facets of this huge institution are not widely known. Here are seven things you should know about Social Security, according to an article by U.S. News and World Report reporter Emily Brandon. 1. It’s not only a retirement program. Disability benefits and payments for a beneficiary’s spouse and children were added to the program. Annual mailings to all workers age 25 and older include an estimated amount you would be paid if you become disabled and how much your spouse and children... Read More

Medicare Saves $33 Billion through Generic Drugs

Posted on May 17, 2013

According to a Congressional Budget Office report, generic drugs saved both the government and beneficiaries roughly $33 billion in 2007. Businessweek reports the trade group Pharmaceutical Care Management Association expects an additional $14 billion in savings over the next few years due to new generics entering the market through 2012. Read More