Millions ofMedicare recipients could be hit with rising prescription drug premium costs in 2015. Nearly 10 million people now enrolled in six of the 10 largest Part Ddrug plans face premium increases ranging from 11 to 52 percent if they don't switch to a different plan. Three other large plans, with nearly 3.5 million members, will drop their premiums by 13 to 31 percent.
The numbers — from Avalere Health, a company that tracks health care trends — come as a sharp reminder that all of Medicare's private plans can change their costs and benefits every year. Open enrollment, which runs from Oct. 5 to Dec. 7, gives Medicare beneficiaries the chance to find the best deals for next year by comparing coverage and out-of-pocket costs in their current plans — whether Part D drug plans or Medicare Advantage HMOs and PPOs — with what other plans offer. The Medicare Part B premium, which covers doctor visits and outpatient services and is currently $104.90 a month for most beneficiaries, will remain the same in 2015. Read More.
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