CMS Expects Medicare Prescription Premiums to Rise

Medicare prescription drug premiums are expected to increase next year, according to CMS projections issued Monday.

The average monthly premium for basic prescription drug coverage is expected to rise to $30 from the $29.67 average this year, according to bids submitted by drug and health plans.

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The small increase reverses the small drop from last year when the average drug plan premium was $30.76. At the time, CMS officials credited a number of efforts for the drop, including an increased use of generic medications.