Alzheimer’s drug cited as Medicare premium jumps by $21.60

WASHINGTON (AP) – Medicare’s “Part B” outpatient premium will jump by $21.60 next year, one of the largest increases ever. Officials said Friday a new Alzheimer’s drug is responsible for about half of that. The increase guarantees that health care costs will gobble up a big chunk of the recently announced Social Security cost-of-living allowance, a boost that had worked out to $92 a month for the average retired worker.

The announcement on premiums comes as Congress is considering Democratic legislation that would curb what Medicare pays for medications.

The new Part B premium will be $170.10 a month.