Seniors’ Medicare Costs Will Be Reduced For Medicine

Finally some good news on the health care front.

“Elderly and disabled patients enrolled in Medicare will for the first time receive an annual reduction in out-of-pocket costs for drugs,” according to Bloomberg News.

“The standard deductible for plans in Medicare’s drug program, called Part D, will be $310 in 2014, about 4.6 percent less than this year, the Centers for Medicare and Medicaid Services said in a statement today. Copayments also will be reduced for the program that began in 2006.”

“Historically low growth” in health-care spending for the nation’s 50 million Medicare beneficiaries also led to a proposed 2.2 percent reduction in payments from the federal government to private Medicare Advantage plans offered by insurers including UnitedHealth Group Inc., the agency said in a statement. About one-quarter of Medicare’s participants choose Advantage plans, which provide extra benefits such as fitness programs and eye glasses compared with the traditional program.

Medicare spending, according to the Congressional Budget Office, Medicare spending last year grew at three percent, the lowest increase in a decade.


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