Medicare Drug Premiums Won't Rise in 2012

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Maybe you need to print an article to explain just what is the difference between basic medicare and medigap/MAP policies. People just don't seem to understand it, nor take the time to try. It is my understanding that Medicare premiums come out of your social security, while if you choose a Medigap or Medicare Advantage plan you pay out of pocket. These plans are just that - cover what medicare doesn't and an individual choice to have or not. The premiums of these gap plans are individual plan changes not medicare.
You can read the medicare 2012 booklet to see how much is covered and what is not. Basic medicare A and B only covers 80% of hospital costs, 80% of outpatient, and no drugs. It is up to them if they want to increase that coverage with a medigap or Medicare Advantage Plan for added protection. And people out there.... medicare is not free. So far though, the word is, that there will be no increase of premiums deducted from our social security for 2012, however Medigap plans are always making changes in premiums and co-pays.
It is a confusing, difficult and time consuming system to figure out every year and what works best for the individual.
In essence the cost of insurance is $110mo. (depends on yr of retirement) plus the gap of $40mo. or so, but without either, private plan coverage is 4-5x that.
My thought now though is, that by the time you pay the gaps high co-pays for Dr. visits, etc. your out of pocket costs are more than just having the basic medicare.

cc of NY 2:09AM October 15, 2011

I have recently been informed that my Part D plan's premium will be increasing from 25.70 monthly to 40.50 monthly in 2012. I therefore take your "news" reporting with a grain of salt.

johnbleroy of AZ 12:09AM October 15, 2011

Yes, this information is definitely incorrect. I became eligible for Medicare in September and chose a plan that for 67.00 would offer me coverage in the hole as well. Given, I am on a lot of meds I thought this was good. 2012 prices came today - 75.00/month and no coverage in the gap. One of my meds changed from 35/month to 90/month. I am not seeing any savings here.

MM of NJ 4:21PM October 06, 2011

"Medicare has handed out a rare piece of good news for consumers, announcing that insurance premiums for its prescription drug programs will not increase in 2012." This is a false statement. I am eligible in December to go on Medicare, therefore, I started doing my research several weeks ago. When I first contacted the company concerning supplemental, I also asked about information concerning Rx coverage (Part D). For what I would need I was quoted the Medicare price of $35.80. Yesterday I contacted the company to enroll for coverage for both supplemental and Rx Part D. Since my Medicare starts in December, the cost for the Part D is $35.40; BUT that price will INCREASE IN 2012 to $40.80!!! Just thought you should be aware of the false information/facts as stated in your article

Karen H. Constantine of FL 6:32PM October 05, 2011

Same here for me and to be honest, I'm real tired of shopping my plans each year which is alot of work. I have changed plans for the 3rd time in a row and each year it's the same - all plans either have increased their premiums, added a deductible or copay and the saving then becomes minimal.

Terri of WA 6:22PM September 27, 2011

Cathy, when you're ready to look for a new policy go to the Medicare.gov website and do some comparison shopping. Probably won't be ready with updated info until October, but it is a quick and easy way to find the best plan based on your prescription drug needs. I'm a volunteer counselor for HICAP (Health Insurance Counseling and Advocacy Program) and we assist seniors finding the best plans (Medicare Advantage, Medigap and Part D) to suit their individual needs. Be sure to double check any plan which indicates "restrictions" to see how that will affect that particular drug. Hope this helps.

Judy of CA 12:23PM September 24, 2011

Interesting article however I have already received my information from United Healthcare whom I am currently insured through for Medicare Part D. My cost went up $6.40 a month, and my prescription drugs, most of which were Tier 1 during 2011, and under 2012 plan would be no co-pay, are now ranked Tier 2 and will cost me $9.00 for 90 days supply through the preferred mail order pharmacy. One of my drugs that was Tier 2 in 2011 is now Tier 3 and will cost me $120.00 for 90 days. Needless to say, I will be shopping for a new policy this time.

Cathy of WI 11:25PM September 23, 2011