Medicare :: Projected Medicare Part D Costs Drop By 30 Percent
Independent estimates for the Medicare Part D prescription drug benefit for the FY 2008 budget cycle show that net Medicare costs are 30 percent less — $189 billion lower — than were originally predicted when the benefit was created in 2003, HHS Secretary Mike Leavitt announced today. In addition, based on strong, competitive bids by health care plans for 2007, average monthly premiums will be approximately $22 for beneficiaries, down from $23 in 2006, if enrollees remain in their current plans. The initial estimate for 2006 premiums was $37.