(Forbes) Top Medicare Drug Plans Jacking Up Premiums By Double-Digits

Premium increases in certain Medicare drug plans may be more volatile next year with some popular plan rates jumping by double-digit percentages, a new study shows.

A report by Avalere Health, a Washington-based advisory firm and consultant to the health care industry said seven of the 10 most popular prescription drug plans chosen by seniors have double-digit percentage increases in their monthly premiums. Here’s a link to the Avalere report that analyzes the so-called Medicare Part D drug plans that contract with the Centers for Medicare and Medicaid Services to offer seniors prescription drug coverage.

Read it all.


Posted in * Culture-Watch, * Economics, Politics, Consumer/consumer spending, Economy, Health & Medicine, Medicare, Personal Finance, The U.S. Government

2 comments on “(Forbes) Top Medicare Drug Plans Jacking Up Premiums By Double-Digits

  1. Dan Crawford says:

    Gosh, what a surprise. Now that I have entered the infamous “donut hole” I discovered that the big Pharma company manufacturing one of my meds jacked its price up by 46%. The Medicare advantage plan I subscribe jacked its copays up by 25% and its monthly premium by the same amount. So much for effect of health care “reform” – the infamous act that should have been called the Profit Maintenance and Enhancement Act for Corporate Medicine. And we learn how “electronic records” have been used to defraud the government of millions of dollars. What a tragedy – what a sickness.

    Lately, I’ve spent several sessions sitting in the waiting room of a health “Center” that serves lower-income and unemployed persons. The obstacles they face in accessing even rudimentary health services suggest to me that pontificating politicians might learn something about the corrupt system they work so strenuously to maintain. But who wants to spend time in a waiting room with under- and non-insured persons learning about health care as it relates to real human beings? Better to sip the good wine and sample the exotic cheeses of the medico-pharma lobbyists.

  2. Country Doc says:

    Thank you President Bush. We tried to tell them that Part D would bankrupt the system. They passed the bill with the stipulation that the drug companies could set the price and there would be no negotiation. The plan would pay it. The VA by bidding get these drugs for about 40% less. Wish they treated doctors that way! Big Pharma makes hugh donations to both parties.
    As for big pharma, in their defense, it takes billions of dollars and years of paper and rechecking to get a drug on the market. Then they escro a big fund to cover the inevitble lawsuits that occur when someone thinks they had some side effect. Evey new drug I know after it is released will have a schyster on TV reading a list of side effects, most of which is true of all drugs and telling folks to call them for money. I just saw one that had the phone number as1- 800 BAD DRUG. Often long before the patent ends, the FDA or the company will withdraw the drug from the market. It will still be available in other companies. I know several great drugs that were not very expensive, but the only one that worked that after twenty lawsuits with the company winning them all decide to take it of the market because the legal costs exceded their profit! Bendectine for nausa and vomiting of pregnacy was one I recall. Now a new drug has all this built into the price. I use for my patients with a certain diagnose a drug that is $1200 a mnoth! On the street it can be made in a bathtub for just dollars. Nothing can take it’s place. The company has been successful fighting off the predators and it is still available. The administration assured the people that there would be no tort reform in this administration. Trial lawyers funnel hugh big buck into their party all the time.
    I try to use generics as much as I can, but the drugstores really often add a great profit. I have one I use that is 5-10 dollars a hundred. The drug stores charge $70 dolars for 30 and the patients are happy because the name brand is $300 a month.

    As for the insurance plans, they are not going to loose money. They just pass on these costs. It will get exponentially higher under Obamination Care. This is what the voter want and vote for. Enjoy.
    Pray for me to be able to control my anger and not hate.