Medicare Drugs Should Cost A Little Less Next Year

Good news for Medicare enrollees who are on fixed incomes and counting pennies as well as pills: The price of prescription drug premiums in the program are expected to slightly dip next year.

According to Reuters, the Department of Health and Human Services projects the average monthly premium for Medicare Part D should slide to $30 from $30.76. The drop is thanks in part to more generic drugs on the market.

Under the program, the government subsidizes drug plans that Medicare-covered patients sign up for under private insurers.

Medicare prescription drug premiums to fall [Reuters]