WASHINGTON (August 6, 2012)—The average premium for basic Medicare drug coverage will stay the same next year at $30 a month, the Obama administration said Monday.
It’s the third year in a row of little or no change in the premium.
In addition, Medicare recipients with high prescription costs are saving an average of $629 apiece thanks to a provision of the new health care law that gradually eliminates a coverage gap called the "doughnut hole."
There is a caveat on premiums.
Because the number is an average, some beneficiaries may see their monthly cost go up, while others get a decrease.
Consumer advocates say seniors should check their plans during open enrollment season this fall and shop around if they're not satisfied.
Generic drugs are helping keep costs stable.