Medicare Part D Costs Rising for Many
As the open enrollment period for the Medicare Part D prescription drug benefit begins tomorrow, 11/15, beneficiaries may want to start their selection process all over again, according to
SeniorJournal.com.
The Kaiser Family Foundation found that three-quarters of Medicare beneficiaries enrolled in stand-alone drug plans could face premium increases in 2008 and monthly premiums will increase 17 percent if enrollees do not switch plans. "Nearly one in five of this year's enrollees will experience an annual increase of at least $120 if they stay in the same plan next year," the report finds.
United Health Group's AARP Plan-Saver will increase its premium by 87 percent and Humana's PDP Standard plan has increased premiums almost threefold since its debut in 2006, according the the SeniorJournal.com article.