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Medicare Drug Premiums to Rise for 2nd Year

Updated: 07/31/2014 5:39 PM
Created: 07/31/2014 5:38 PM WDIO.com

WASHINGTON (AP) - Medicare says premiums for prescription drug plans will rise in 2015 for the second year in a row.

Officials said Thursday that Medicare's average monthly drug premium will rise next year to $32.

The modest increase of $1 a month comes amid worries over the future impact of costly new medications. Sovaldi, for example, cures hepatitis C but costs $1,000 a pill.

Most Medicare beneficiaries have prescription drug coverage.

But consumers should pay attention because the average premium says little about what any one person pays.

Premiums change every year, so consumer advocates say beneficiaries should check their plan during open enrollment, from Oct. 15 to Dec. 7, and seek better deals if they're not satisfied.

This year, the average premium also went up by $1, after three stable years.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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