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Some Medicare prescription plans to raise rates

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Friday, October 12, 2012

Some of the most popular Medicare prescription drug plans face double-digit premium hikes next year.

Seven of the top 10 prescription plans are raising their premiums 11 to 23 percent, according to a report in September by Avalere Health.

It's a reality check on a stream of upbeat Medicare announcements from the Obama administration, all against the backdrop of a hard-fought election. In August, officials had announced that the average premium for basic prescription drug coverage will stay the same in 2013, at $30 a month.

The administration's number is accurate as an overall indicator for the entire market, but not very helpful to consumers individually as it doesn't reflect price swings in the real world.

Read more at OregonLive.com.

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