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Part D (Prescription Drug) News

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

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

Women, Diabetics Fall Fast Into Medicare ‘Doughnut Hole’

Posted on May 17, 2013

(HealthDay News) — Among elderly Americans, women and those with diabetes and dementia are most likely to find themselves in the Medicare Part D drug plan “doughnut hole,” the coverage gap that occurs after a beneficiary has reached the annual coverage limit but hasn’t spent enough on drugs to qualify for catastrophic coverage. Researchers analyzed the records of more than 287,000 Medicare enrollees in eight states and found that 16 percent of them entered the doughnut hole. Nearly 3 percent entered the gap very early — within the first 180... Read More