Medicare Part D Premiums Slated to Remain Stable in Upcoming Year
By Ania Chrostowska, SBHIS.net
Good news for seniors on Medicare — next year’s premiums should remain stable according to the latest reports at USA Today.
Those covered under Medicare Part D should expect average premiums around $31 in 2014. While this premium is up from $30 within the last three years, it’s still manageable for many seniors in terms of increase.
The Part D deductible will fall with an expected dollar amount of $325 in 2014, a figure down by $15.
“There is continued very strong competition within the Part D plan,” said Jonathan Blum, deputy administrator and director for the Center of Medicare, in a statement at USA Today. At the start of the Part D program, “there was lots of concern that filling in the doughnut hole would cause… costs to go up.”
Instead, costs were kept low due in part to transparent bidding process, negotiated costs with drug makers and insurers like SBHIS.net that aim to keep costs low.
ENROLLING IN THE PART D MEDICARE PROGRAM
SBHIS.net can help you enroll in the Part D prescription drug plan. The Medicare Prescription Drug Plan adds drug coverage to your existing Medicare coverage. It can help you save thousands. According to the latest reports, individuals saved $1,061 per year on average. That’s a significant figure for most seniors on a tight budget.
Part D can be added to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans according Medicare.gov.
Alternatively, Medicare Advantage Plans including prescription drug coverage could be a better choice altogether depending on your specific situation. It’s best to talk to a professional to understand what option is best for you.
Visit http://www.sbhis.net/ for more information or give us a call directly at 619-934-7227 for a free consultation.
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