Medicare holds premiums steady for 2007

August 21, 2006

CMS announced that the average cost of Medicare prescription drug plans will remain at current levels or even drop in 2007. According to federal officials, the average premium will be $24 or possibly even less next year.

Medicare holds premiums steady for 2007

CMS announced that the average cost of Medicare prescription drug plans will remain at current levels or even drop in 2007. According to federal officials, the average premium will be $24 or possibly even less next year. CMS attributed the price freeze to competition among health plans, with the bidding among Medicare Advantage prescription drug plans especially keen. "The power of Medicare beneficiaries making informed choices has already reduced the cost of the drug benefit by 25% on average in 2006, and as a result of continuing strong competition, more savings are on the way," explained CMS administrator Mark McClellan, M.D., Ph.D.

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