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Health Officials: No Increase in Medicare Drug Costs Next Year

Medicare participants enrolled in the health insurance program's prescription drug benefit should see their premium cost remain steady next year, health officials said.

The Department of Health and Human Service on Monday forecast a $30 average monthly premium for Medicare Part D, similar to the cost in 2012. In 2011, premiums were $30.76.

HHS attributed the low premiums to President Barack Obama's healthcare reform law, known as the Affordable Care Act, which includes some measures to lower the cost of medications for seniors. Last year, HHS also attributed the low premiums to increased competition and greater use of cheaper generic drugs.

Source: Reuters. Read full article. (link)

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