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Article: Medicare Drug Premiums Lower Than Expected
- Article from:
- AP Online
- Article date:
- August 10, 2005
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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KEVIN FREKING, Associated Press Writer
AP Online
08-10-2005
Dateline: WASHINGTON
Most participants in Medicare's new prescription drug benefit will spend about $5 less per month in premiums than originally anticipated because of competition among private plans bidding to offer the benefit.
The savings will also extend to the government. The subsidies it pays the plans to provide the drug benefit will decrease by about $180 per beneficiary next year. The savings translate into at least $5 billion annually based on Wall Street estimates of enrollment rates.
"This is good news for beneficiaries because the cost is turning out to be lower than had been projected by independent experts," said Dr. ...