7 of the 10 Most Popular Medicare Part D Plans Hike Rates By Double Digits

Another reminder that if you haven’t taken a look at your Medicare materials yet, it is definitely time ot start. According to Avalere Health, seven out of the ten most popular Medicare Part D plans will be hiking their premiums by double digits for next year. With more than 80% of Medicare Part D beneficiaries in one of these plans, chances are these hikes will be affecting you.

If you’re a member of the very popular Humana WalMart Preferred Rx, famous for its low premiums and low co-pays, don’t be surprised if your premiums aren’t quite as low. The Humana WalMart Preferred Rx premiums will be going up an average of 23%, from $15.10 to $18.50. Even at that rate, the Humana WalMart Preferred Rx will still be offering the lowest average monthly premium among the top 10 plans.

However, if you’re shopping around for a lower rate, keep in mind that there’s a new kid on the block offering a new very low rate. UnitedHealth’s Medicare Rx Saver Plus is offering a $15 premium, and may be an option, if you’re looking for a more affordable rate.

Keep in mind, however, that low premiums aren’t the only thing. If you are on a prescription drug regimen, do your research as to what prescription drugs are covered on your Medicare Part D plan’s formulary. It doesn’t pay to save a few buck on your premiums if the drugs you need every month have a sky-high co-pay!

Are your ready for Medicare Part D“>Medicare Open Enrollment? Tell us about it in our prescription drug forum!

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