Medicare Prescription Plans Set To Rise 21%

Seniors need to start comparison shopping now for their Medicare benefits. Enrollment begins November 15 and researchers say that beneficiaries in the most popular plans could see their monthly premiums lurch up 21%. Robert M. Hayes, president of the Medicare Rights Center, recommends,

“making a list of your medicines and how much you pay for them under your current plan. Check if that plan and other potential plans will cover those medications next year. If a plan doesn’t, you could check with your doctor to see if a similar medicine or a generic would be as effective. Check the fine print because some plans permit certain drugs only after a patient has tried other medications.” has lots of information and tools for comparison shopping. Some Medicare recipients may not be computer or internet savvy, so consider asking an older friend or family member if they need some help navigating the system.

Oddly enough, the popular plans that built up a big user base by having lower premiums are the ones raising their prices most significantly. Funny how that works.

Drug-Plan Shopping [Wall Street Journal via Consumer World Blog]
(Photo: trekkyandy)