Gov't: Medicare drug plan premiums stable for 2013

Associated Press

WASHINGTON (AP) — It's an economic indicator of sorts for seniors: The Obama administration says the average premium for basic Medicare drug coverage will stay the same next year, $30 a month. That's the third year in a row of little or no change.

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 plan during open enrollment season this fall and shop around if they're not satisfied.

Generic drugs are helping keep costs stable.

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