WASHINGTON (September 25, 2012)—A new study says seniors enrolled in seven of the 10 most popular Medicare prescription drug plans will be hit with double-digit premium hikes next year if they don't shop for a better deal.
The report by Avalere Health is a reality check against the Obama's administration's upbeat pronouncements.
In August, officials announced that the average premium for basic prescription drug coverage would stay the same in 2013, at $30 a month.
That number is accurate as an overall market indicator, but not very helpful to individual consumers because it doesn't reflect price swings in the real world.
The report found premium increases for all top 10 prescription drug plans, known as PDPs.
Officials said seniors can avoid the hit by shopping around for available low-premium plans.