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Average Medicare Part D (prescription drug) plan likely to cost just $1 more in 2011, CMS estimates
Healthcarefinancenews
WASHINGTON – The Centers for Medicare & Medicaid Services has announced that average 2011 Medicare prescription drug plan premiums will remain similar to rates paid by beneficiaries this year.
CMS officials said this, coupled with new discounts for brand-name drugs through the Affordable Care Act, will help make medications more affordable for Medicare beneficiaries.
“Most Medicare prescription drug plan premiums should remain relatively stable next year, and all beneficiaries should compare their coverage under their current plan with the plans that will be offered in 2010 when that information becomes available in October,” said Jonathan Blum, deputy administrator of CMS’ Center for Medicare. “The Affordable Care Act improves the value of drug coverage people with Medicare will receive next year, providing discounts on brand name drugs and coverage of generics in the coverage gap, or donut hole.”
Based on the bids submitted by Part D plans for the 2011 plan year, CMS estimates that the average monthly premium that beneficiaries will pay for standard Part D coverage will be $30 – a $1 increase from the current year (2010) average premium of $29.
Pharmaceutical Care Management Association officials said the latest reduced CMS Part D cost estimate highlights that proven pharmacy benefit management tools used by Part D plans are saving money without sacrificing beneficiaries’ prescription drug choices.
