Elder Law Attorneys Discuss Medicare

In this era of recession, doom and gloom economic new has become the norm. Good news, even a little can be comforting. Average premiums for Medicare Part D will fall slightly in 2012.

The Rising Cost of Medicare

Medicare Part D is a federal program to subsidize the costs of prescription drugs for Medicare beneficiaries. It was enacted in 2003 and went into effect in 2006. Average premiums have not fallen since 2007. In a move to protect their profits insurers set prices high. Premiums fell when the actual costs was lower than expected. Premiums have been on the rise every year since.

Medicare Costs Lower in Boston

The heavy reliance on the use of generic drugs and competition among insurers are the main cost control factors. In a recent study Harvard Medical School and Brigham and Women's Hospital, found that the program had resulted in lower costs for some medications used to treat some common conditions. The study found that in Boston, Medicare Part D reduced health care spending by almost 10 percent.

Medicare Planning

It is important to remember that this is an average of many plans in many regions. So when people are planning for Medicare that some people in some regions will actually see a premiums rise in 2012. So take some time with your Medicare planning, evaluate plans carefully. It is important to note that the enrollment date come earlier this year. It begins October 15th and ends December 7th.